By Cristal Cody
Tupelo, Miss., Aug. 18 – MJX Asset Management LLC priced $50.7 million of fixed-rate notes in a refinancing of two tranches from its vintage Venture XXVIII CLO, Ltd./Venture XXVIII CLO, LLC transaction, according to market sources.
The CLO priced $27.8 million of 3.287% class B-FR senior secured fixed-rate notes and $22.9 million of 4.25% class C-FR mezzanine secured deferrable fixed-rate notes.
Venture XXVIII previously sold $27.8 million of 3.779% class B-F notes and $22.9 million of 4.453% class C-F notes as part of the original CLO offering issued on July 18, 2017.
Jefferies LLC arranged the transaction.
The notes are due July 20, 2030.
MJX affiliate MJX Venture Management II LLC is the CLO manager.
Proceeds will be used to redeem the original class B-F and C-F 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 XXVIII CLO, Ltd./Venture XXVIII CLO, LLC
|
| Amount: | $50.7 million repricing
|
| Maturity: | July 20, 2030
|
| Securities: | Fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Jefferies LLC
|
| Manager: | MJX Venture Management II LLC
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 18
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class B-FR notes
|
| Amount: | $27.8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.287%
|
| Original coupon: | 3.779%
|
|
|
| Class C-FR notes
|
| Amount: | $22.9 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 4.25%
|
| Original coupon: | 4.453%
|
|
|
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