By Cristal Cody
Tupelo, Miss., Sept. 28 – Sound Point Capital Management LP refinanced $21.1 million of notes due Jan. 20, 2031 from the vintage 2018 Sound Point CLO XVIII, Ltd./Sound Point CLO XVIII, Inc. transaction, according to market sources.
The CLO priced $21.1 million of 2.37% class A-2B-R senior secured fixed-rate notes (expected ratings Aa2).
In the original deal issued Jan. 23, 2018, the CLO had priced $21.1 million of 3.74% class A-2-B fixed-rate notes.
Goldman Sachs & Co. LLC was the refinancing agent.
Proceeds will be used to redeem the class A-2-B notes.
The CLO is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
Sound Point Capital has priced two new dollar-denominated CLOs, one new euro-denominated CLO and two partial CLO refinancings year to date.
The asset management firm is based in New York.
| Issuer: | Sound Point CLO XVIII, Ltd./Sound Point CLO XVIII, Inc.
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| Amount: | $21.1 million refinancing
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| Maturity: | Jan. 20, 2031
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| Securities: | Class A-2B-R senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Goldman Sachs & Co. LLC
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| Manager: | Sound Point Capital Management LP
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| Coupon: | 2.37%
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| Pricing date: | Sept. 22
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| Settlement date: | Oct. 2
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| Rating: | Moody’s: Aa2 expected
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| Distribution: | Rule 144A and Regulation S
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