MJX Asset Management plans $614.5 million refinancing of 2013 vintage Venture XV CLO

By Cristal Cody

Eureka Springs, Ark., Sept. 29 – MJX Asset Management LLC plans to refinance $614.5 million of notes in the 2013 vintage broadly syndicated Venture XV CLO, Ltd. offering, according to a market source.

The CLO will refinance $374 million of class A-R floating-rate notes (AAA); $57.5 million of class B-R floating-rate notes; $30 million of class C-R floating-rate notes; $22.5 million of class C-F-R fixed-rate notes; $15 million of class D-1-R floating-rate notes; $20.3 million of class D-2-R floating-rate notes; $34.2 million of class E-R floating-rate notes and $61 million of subordinated notes.

Jefferies LLC is the refinancing agent.

The maturity on the refinanced notes will be extended to July 15, 2028 from the original July 15, 2025 maturity.

The CLO will have a two-year non-call period and a four-year reinvestment period.

Proceeds will be used to redeem the original notes on Oct. 17.

MJX Asset Management has priced two CLO transactions year to date.

The New York City-based asset management company brought three new CLO deals and refinanced one vintage CLO in 2015.

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