Chicago, Feb. 17 – Sound Point Capital Management, LP sold $507.2 million in a collateralized loan obligation being issued by Sound Point CLO XXXIII, Ltd., according to a news release.
The notes will mature on April 25, 2035.
The CLO consists of $315 million of class A senior secured floating-rate notes, $65 million of class B senior secured floating-rate notes, $30 million of class C mezzanine secured deferrable floating-rate notes, $30 million of class D mezzanine secured deferrable floating-rate notes, $20 million of class E junior secured deferrable floating-rate notes and $47.2 million of subordinated notes.
Sound Point Capital Management, LP will manage the collateral through the end of the five-year reinvestment period.
The notes will be backed a portfolio of first-lien senior secured loans and eligible investments.
BofA Securities, Inc. is the placement agent.
Sound Point Capital is an asset management firm based in New York.
| Issuer: | Sound Point CLO XXXIII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $507.2 million
|
| Maturity: | April 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Sound Point Capital Management, LP
|
| Settlement date: | March 3
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $47.2 million
|
| Securities: | Subordinated notes
|
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