Goldman Sachs prices $609M partial refinancing of Sound Point CLO XIV

Goldman Sachs has priced the $609 million partial refinancing of Sound Point CLO XIV for Sound Point Capital Management.

Details are as follows:

The refinancing is expected to close on Feb. 12, 2021, while the non-call period on the refinanced notes will run until Feb. 12, 2022. The weighted average life test date of the CLO is November 2024, while the maturity is January 2029.

The original $715 million CLO was issued in November 2016. In August 2019, the $451.5 million class A notes were refinanced to pay L+115 bps.