By Cristal Cody
Tupelo, Miss., Oct. 23 – MJX Asset Management LLC priced $110,525,000 of fixed-rate notes due Oct. 22, 2031 in a refinancing of two tranches from the vintage Venture 35 CLO, Ltd./Venture 35 CLO, LLC transaction, according to market sources.
The CLO priced $80 million of 1.95% class A-FR senior secured fixed-rate notes (Aaa) and $30,525,000 of 2.75% class B-FR senior secured fixed-rate notes (Aa2).
Venture 35 previously sold $80 million of 4.4% class A-F notes and $30,525,000 of 5% class B-F notes as part of the original CLO offering issued on Nov. 14, 2018.
Jefferies LLC arranged the transaction.
Proceeds were used to redeem the original notes.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The asset management firm is based in New York City.
| Issuer: | Venture 35 CLO, Ltd./Venture 35 CLO, LLC
|
| Amount: | $110,525,000 repricing
|
| Maturity: | Oct. 22, 2031
|
| Securities: | Fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Jefferies LLC
|
| Manager: | MJX Asset Management LLC
|
| Settlement date: | Oct. 22
|
|
|
| Class A-FR notes
|
| Amount: | $80 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.95%
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class B-FR notes
|
| Amount: | $30,525,000
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.75%
|
| Ratings: | Moody’s: Aa2
|
|
|
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