Chicago, March 16 – Sound Point Capital Management, LP sold $531.6 million in a collateralized loan obligation issued by Sound Point CLO XXXII, Ltd., according to a press release and a notice.
The notes will mature on Oct. 25, 2034.
The CLO consists of $97.7 million of class A senior secured floating-rate notes, $227.8 million of class A-L senior secured floating-rate notes, $55.2 million of class B-1 senior secured floating-rate notes, $18.3 million of class B-2 3.02% senior secured fixed-rate notes, $31.5 million of class C mezzanine secured deferrable floating-rate notes, $28.9 million of class D mezzanine secured deferrable floating-rate notes, $23.6 million of class E junior secured deferrable floating-rate notes at Libor plus 670 bps and $48.6 million of subordinated notes.
Sound Point Capital Management, LP will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Credit Suisse Securities (USA) LLC was the placement agent.
Sound Point Capital is an asset management firm based in New York.
| Issuer: | Sound Point CLO XXXII, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $531.6 million
|
| Maturity: | Oct. 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Sound Point Capital Management, LP
|
| Settlement date: | Dec. 16, 2021
|
|
|
| Class A notes
|
| Amount: | $97.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L notes
|
| Amount: | $227.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $55.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $18.3 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.02%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $31.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $28.9 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $23.6 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 670 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $48.6 million
|
| Securities: | Subordinated notes
|
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