Sound Point prints $460.25 million CLO; Anchorage Capital prices second CDO of year

By Cristal Cody

Tupelo, Miss., Dec. 17 –Details emerged on new CLO and CDO deals priced in December.

Sound Point Capital Management LP tapped the market with a $460.25 million CLO offering, bringing the AAA-rated tranche at Libor plus 165 basis points.

Anchorage Capital Group, LLC returned to the primary market to bring its second CDO deal of the year. Anchorage Capital priced $417.6 million of fixed-rate and subordinated notes in the transaction.

CLO managers have priced more than $106 billion of broadly syndicated, middle-market and refinancing transactions in the U.S. market year to date, according to Prospect News data.

Sound Point Capital Management sold $460.25 million of notes due Jan. 20, 2028 in the Sound Point CLO X, Ltd./Sound Point CLO X Inc. deal, according to a market source.

The CLO priced $250 million of class A-1 senior secured floating-rate notes at Libor plus 165 bps in the senior tranche.

Morgan Stanley & Co. LLC was the placement agent.

The CLO is backed primarily by first-lien senior secured corporate loans.

Anchorage Capital Group sold $417.6 million of notes due Jan. 25, 2031 in a CDO transaction, according to a market source.

Anchorage Credit Funding 2, Ltd./Anchorage Credit Funding 2, LLC priced $200 million of 4.3% class A senior secured fixed-rate notes at the top of the capital stack.

GreensLedge Capital Markets LLC arranged the offering.

The transaction is collateralized primarily by corporate bonds and loans.

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