Sound Point Meridian Announces $100 Million Net Asset Value Credit Facility

Provides liquidity for investments, working capital and general corporate purposes

NEW YORK, July 09, 2024–(BUSINESS WIRE)–Sound Point Meridian Capital, Inc. (NYSE: SPMC), a closed-end investment company registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced that it has entered into a $100 million “net asset value” revolving credit facility, which may be increased up to $125 million under the terms of such facility, with Canadian Imperial Bank of Commerce (“CIBC”) as lender and administrative agent. The CIBC Credit Facility is secured by a first priority perfected security interest in substantially all of the Company’s assets, including, without limitation, all of the Company’s permitted portfolio investments, subject to certain exceptions.

Borrowings under the CIBC Credit Facility may be used for the Company’s investing activities, working capital and general corporate purposes. Borrowings under the CIBC Credit Facility bear interest at either (i) the term SOFR plus a margin of 3.75% per annum or (ii) the alternative base rate plus a margin of 2.75% per annum. The Company may only borrow at the term SOFR rate at the time of drawdown, but the borrowings may be converted to interest at the alternative base rate under certain conditions.

The term of the CIBC Credit Facility is July 8, 2026 and may be extended for an additional 364 days in accordance with its terms.

about the company

The Company is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to achieve high current income, with a secondary objective of achieving capital appreciation, by investing primarily in equity of third-party collateralized loan obligations (“CLOs”) and mezzanine tranches of predominantly U.S. dollar-denominated CLOs backed by corporate loans made primarily to U.S. borrowers. The Company is externally managed and advised by Sound Point Meridian Management Company, LLC, a Delaware limited liability company. The Company’s public filings may be obtained free of charge by writing to the Company at 375 Park Avenue, 34th Floor, New York, New York 10152, Attention: Investor Relations, or by telephone at (833) 217-6665.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements included in this press release that are not historical facts may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s prospectus and other filings with the Securities Exchange Commission. The Company undertakes no obligation to update any forward-looking statements contained herein. All forward-looking statements speak only as of the date of this press release.

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NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

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contacts

Investor relations:
Garrett Edson – ICR; Julie Smith – Sound Point Capital
(833) 217-6665
[email protected]
www.soundpointmeridiancap.com