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Sound Point sells $664.3 million 2017 CLO; GoldenTree refinances $503.9 million 2014 notes
By Cristal Cody
Tupelo, Miss., Feb. 7 – New deal action continued to move forward in the CLO market with another transaction priced in February.
Sound Point Capital Management LP brought a $664.3 million CLO deal to the primary market.
In other activity, refinancing action remains strong. GoldenTree Asset Management LP refinanced $503.9 million of notes from a vintage 2014 CLO.
Sound Point Capital Management priced $664.3 million of notes due Jan. 23, 2029 in the new Sound Point CLO XV, Ltd. transaction, according to a market source.
The CLO sold $416 million of class A senior secured floating-rate notes at Libor plus 139 basis points in the AAA-rated tranche.
MUFG arranged the deal.
The transaction is collateralized mainly by broadly syndicated first lien senior secured corporate loans.
Sound Point Capital, a New York-based asset management firm, priced three new CLO deals in 2016.
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