Chicago, May 19 – Sound Point Capital Management, LP reset for $416.4 million the collateralized loan obligation originally issued by Sound Point CLO XXV, Ltd., according to a press release.
The notes will now mature on April 25, 2033.
The reset CLO consists of $278.5 million of class A-1-R senior secured floating-rate notes, $14 million of class A-2-R 2.84% senior secured fixed-rate notes, $49.5 million of class B-R senior secured floating-rate notes, $27 million of class C-R mezzanine secured deferrable floating-rate notes, $27 million of class D-R mezzanine secured deferrable floating-rate notes, $18 million of class E-R junior secured deferrable floating-rate notes and $2.4 million of class Y and class Z notes.
The original $41.1 million of subordinated notes are continuing as part of the transaction.
Sound Point Capital Management, LP will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of a portfolio of broadly syndicated senior secured corporate loans.
Citigroup Global Markets Inc. was the placement agent.
The asset management firm is based in New York.
| Issuer: | Sound Point CLO XXV, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $416.4 million
|
| Maturity: | April 25, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Sound Point Capital Management, LP
|
| Announcement date: | March 2
|
|
|
| Class A-1-R notes
|
| Amount: | $278.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $14 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.84%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
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| Amount: | $49.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $27 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
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| Amount: | $27 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
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| Amount: | $18 million
|
| Securities: | Junior secured deferrable floating-rate notes
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| Rating: | Moody's: Ba3
|
|
|
| Class Y notes
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| Amount: | $1.4 million
|
| Securities: | Class Y notes
|
|
|
| Class Z notes
|
| Amount: | $1 million
|
| Securities: | Class Z notes
|
|
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