Chicago, May 11 – MJX Asset Management LLC sold $514.7 million of notes in a new CLO issued by Venture 43 CLO Ltd./Venture 43 CLO LLC, according to a notice.
The CLO matures April 17, 2034.
The portfolio has $5 million of class X senior secured floating-rate notes at Libor plus 105 basis points, $300 million of class A-1 senior secured floating-rate notes at Libor plus 124 bps, $20 million of class A-2 senior secured floating-rate notes at Libor plus 150 bps and $60 million of class B senior secured floating-rate notes at Libor plus 180 bps.
Lower, there are $29.5 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 225 bps, $28.3 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 347 bps, $22.3 million of class E junior secured deferrable floating-rate notes at Libor plus 715 bps and $49.6 million of subordinated notes.
Deutsche Bank Securities Inc. is the underwriter.
MJX Asset is the collateral manager during the five-year reinvestment period.
Collateral is mostly senior secured loans, cash and eligible investments.
MJX is an asset management firm based in New York City.
| Issuers: | Venture 43 CLO Ltd./Venture 43 CLO LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $514.7 million
|
| Maturity: | April 17, 2034
|
| Agent: | Deutsche Bank Securities Inc.
|
| Manager: | MJX Asset Management LLC
|
| Settlement date: | May 26
|
|
|
| Class X notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 105 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 124 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $29.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $28.3 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 347 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $22.3 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 715 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $49.6 million
|
| Securities: | Subordinated notes
|
|
|
© 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.
