Sound Point prices CLO with distressed flexibility

By Seth Brumby

Sound Point Capital Management priced a $505 million CLO known as Sound Point CLO XXIV yesterday. The CLO has greater flexibility to invest in distressed

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TAGS: Credit Suisse CLO Sound Point Pricing Primary market North America

Comment by: Anonymous. Posted 1 month ago [2019-09-05 15:02:55]

Neither the 15% cumulative limit on Default Exchanges nor the 10% cumulative limit on carve-outs to A&Es that would cause the WAL test to fail are off-market or offer more "flexibility" than a generic BSL CLO.