Chicago, Feb. 19 – MJX Venture Management II LLC refinanced $486.5 million in three classes of notes from the Venture XXVII CLO, Ltd. collateralized loan obligation offering due July 22, 2030, according to a market source.
The refinancing includes the $384 million of class A-R senior secured floating-rate notes at Libor plus 105 basis points, $72 million of class B-R senior secured floating-rate notes at Libor plus 160 bps and $30.5 million of class C-R mezzanine secured deferrable floating-rate notes at Libor plus 230 bps.
MJX Venture Management II will continue to manage the CLO over the year and a half remaining on the reinvestment period.
The collateral for the notes primarily consists of a portfolio of broadly syndicated senior secured corporate loans.
The non-call period has been extended in the refinancing.
MJX is a New York City-based asset management firm.
Issuer: | Venture XXVII CLO, Ltd.
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Amount: | $486.5 million
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Maturity: | July 22, 2030
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Securities: | Floating-rate notes
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Structure: | Cash flow CLO
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Manager: | MJX Venture Management II LLC
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Announcement date: | Feb. 19
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Class A-R notes
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Amount: | $384 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 105 bps
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Rating: | Moody's: Aaa
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Class B-R notes
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Amount: | $72 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 160 bps
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Rating: | Moody's: Aa1
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Class C-R notes
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Amount: | $30.5 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 230 bps
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Rating: | Moody's: A2
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