Chicago, Aug. 16 – Sound Point CLO C-MOA, LLC sold $394.2 million in a collateralized loan obligation issued by Sound Point CLO 36, Ltd./Sound Point CLO 36, LLC, according to presale reports.
The notes will mature on July 28, 2036.
The CLO consists of $252 million of class A senior secured floating-rate notes at SOFR plus 189 basis points, $50 million of class B senior secured floating-rate notes at SOFR plus 285 bps, $22 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 340 bps, $22 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 570 bps, $15 million of class E junior secured deferrable floating-rate notes at SOFR plus 881 bps and $33.2 million of subordinated notes.
Sound Point CLO C-MOA, LLC will manage the collateral through the end of the reinvestment period on July 26, 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans.
The notes can be called starting July 28, 2025.
BNP Paribas Securities Corp. was the placement agent.
Sound Point Capital is an asset management firm based in New York.
| Issuer: | Sound Point CLO 36, Ltd./Sound Point CLO 36, LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $394.2 million
|
| Maturity: | July 28, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Sound Point CLO C-MOA, LLC
|
| Call feature: | July 28, 2025
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 9
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 189 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 570 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 881 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $33.2 million
|
| Securities: | Subordinated notes
|
|
|
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