MJX prices $612.88 million CLO; MidCap brings $405.56 million middle-market deal

By Cristal Cody

Tupelo, Miss., July 26 – CLO deal action has been steady in both the broadly syndicated and middle-market spaces in July.

MJX Asset Management LLC affiliate MJX Venture Management LLC priced $612.88 million of notes in the manager’s third new broadly syndicated CLO deal of the year.

MidCap Financial Services Capital Management LLC priced $405.56 million of notes in its second new middle-market offering year to date.

CLO managers have priced more than $63 billion of broadly syndicated CLOs and more than $8 billion of middle-market CLOs year to date, according to market sources.

In its deal, MJX Venture Management priced $612,875,000 of notes due July 15, 2031 in the Venture 33 CLO, Ltd./Venture 33 CLO, LLC transaction, according to market sources.

The CLO sold $307 million of class A-1L senior secured floating-rate notes at Libor plus 114 basis points at the top of the capital structure.

Jefferies LLC arranged the transaction.

Meanwhile, MidCap Financial Services Capital Management priced $405.56 million of notes due July 25, 2030 in a new middle-market CLO deal, according to a market source.

Woodmont 2018-5 Trust sold $220.75 million of the class A-1 senior secured floating-rate notes at Libor plus 145 bps.

Deutsche Bank Securities Inc. was the placement agent.

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