Chicago, March 22 – MJX Asset Management LLC refinanced five classes of notes for a total of $440.02 million from the Venture XXIV CLO, Ltd./Venture XXIV CLO, LLC transaction, according to a notice.
The second refinancing notes include the $332.52 million of class A-RR senior secured floating-rate notes at Libor plus 90 basis points, $58 million of class B-RR senior secured floating-rate notes at Libor plus 150 bps, $22.5 million of class C-1RR mezzanine secured deferrable floating-rate notes at Libor plus 210 bps, $12 million of class C-FRR 2.75% mezzanine secured deferrable fixed-rate notes and $15 million of class D-1RR mezzanine secured deferrable floating-rate notes at Libor plus 325 bps.
At the last refinancing, the portfolio had $338 million of class A-R senior secured floating-rate notes at Libor plus 118 bps, $22.5 million of class C-1R mezzanine secured deferrable floating-rate notes at Libor plus 240 bps and $15 million of class D-1R mezzanine secured deferrable floating-rate notes at Libor plus 390 bps.
The CLO did not refinance previously its $58 million of class B senior secured floating-rate notes at Libor plus 205 bps; its $12 million of class C-F 4% mezzanine secured deferrable fixed-rate notes; its $12 million of class D-2 mezzanine secured deferrable floating-rate notes at Libor plus 405 bps, its $25.5 million of class E junior secured deferrable floating-rate notes at Libor plus 672 bps or its $42.45 million of subordinated notes.
The non-call period is being extended as part of the second refinancing transaction.
MJX Asset Management will continue to manage the assets of the portfolio.
The asset management company is based in New York City.
| Issuer: | Venture XXIV CLO, Ltd./Venture XXIV CLO, LLC
|
| Amount: | $440,020,881 refinancing
|
| Maturity: | October 2028
|
| Securities: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Manager: | MJX Asset Management LLC
|
| Announcement date: | March 18
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-RR notes
|
| Amount: | $332.520881 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-RR notes
|
| Amount: | $58 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-1RR notes
|
| Amount: | $22.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-FRR notes
|
| Amount: | $12 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 2.75%
|
| Rating: | Moody's: Aa2
|
|
|
| Class D-1RR notes
|
| Amount: | $15 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody's: A2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
