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Prospect News home > News index > List of issuers S > Headlines for Sound Point CLO XV, Ltd. > News item
Published on 2/7/2017 in the Prospect News CLO Daily.

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 prices $664.3 million

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.

GoldenTree refinances

GoldenTree Asset Management sold $503.9 million of notes due April 20, 2026 at par in a refinancing of the GoldenTree Loan Opportunities VIII Ltd./ GoldenTree Loan Opportunities VIII, LLC transaction, according to a market source.

GoldenTree Loan Opportunities VIII priced $364.8 million of class A-R floating-rate notes at Libor plus 121 bps at the top of the capital structure.

Morgan Stanley & Co. LLC arranged the deal.

The transaction is backed primarily by broadly syndicated first lien senior secured loans.

GoldenTree Asset Management refinanced two vintage CLOs and priced one U.S. CLO deal and one euro-denominated CLO offering in 2016.

The private investment firm is based in New York City.


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