Chicago, July 25 – Sound Point CLO C-MOA, LLC sold €390.44 million in a collateralized loan obligation issued by Sound Point Euro CLO IX Funding DAC, according to the listing particulars.
The notes will mature on Jan. 15, 2032.
The CLO consists of €272 million of class A senior secured floating-rate notes at Euribor plus 160 basis points, €23 million of class B senior secured floating-rate notes at Euribor plus 276 bps, €22.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 371 bps, €23.92 million of class D senior secured deferrable floating-rate notes at Euribor plus 541 bps, €23.8 million of class E senior secured deferrable floating-rate notes at Euribor plus 732 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,127 bps and €13.22 million of subordinated notes.
The CLO is static. There is no reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
The notes can be called starting July 25, 2023.
Deutsche Bank AG was the placement agent.
Sound Point is an advisory firm based in New York.
| Issuer: | Sound Point Euro CLO IX Funding DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €390.44 million
|
| Maturity: | Jan. 15, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG
|
| Manager: | Sound Point CLO C-MOA, LLC
|
| Call feature: | July 25, 2023
|
| Settlement date: | July 22
|
|
|
| Class A notes
|
| Amount: | €272 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 160 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €23 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 276 bps
|
| Price: | 98
|
| Rating: | Moody's: Aa2
|
| Fitch: AAA
|
|
|
| Class C notes
|
| Amount: | €22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 371 bps
|
| Price: | 98
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €23.92 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 541 bps
|
| Price: | 96.75
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | €23.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 732 bps
|
| Price: | 88
|
| Rating: | Moody's: Ba3
|
| Fitch: BB+
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,127 bps
|
| Price: | 92
|
|
|
| Subordinated notes
|
| Amount: | €13.22 million
|
| Securities: | Subordinated notes
|
| Price: | 90
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
