By Cristal Cody
Tupelo, Miss., May 31 – MJX Asset Management LLC priced $506.45 million of notes due July 15, 2032 in the Venture 37 CLO, Ltd./Venture 37 CLO, LLC transaction, according to market sources.
The CLO sold $280 million of class A-1N senior secured floating-rate notes at Libor plus 139 basis points, $30 million of 3.657% class A-1F senior secured fixed-rate notes, $15 million of class A-2 senior secured floating-rate notes at Libor plus 175 bps, $37 million of class B-N senior secured floating-rate notes at Libor plus 190 bps and $13 million of 4.225% class B-2 senior secured fixed-rate notes.
Venture 37 CLO also priced $32 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 265 bps, $26.5 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 390 bps, $26.5 million of class E junior secured deferrable floating-rate notes at Libor plus 695 bps and $46.45 million of subordinated notes.
Jefferies LLC was the placement agent.
The CLO has a two-year non-call period and a five-year reinvestment period.
The deal is backed mostly by broadly syndicated first-lien senior secured corporate loans.
MJX is an asset management firm based in New York City.
Issuer: | Venture 37 CLO, Ltd./Venture 37 CLO, LLC
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Amount: | $506.45 million
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Maturity: | July 15, 2032
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Securities: | Fixed-rate, floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Jefferies LLC
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Manager: | MJX Asset Management LLC
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Call feature: | Two years
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Pricing date: | May 22
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Settlement date: | June 20
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Distribution: | Rule 144A and Regulation S
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Class A-1N notes
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Amount: | $280 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 139 bps
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Ratings: | Moody’s: Aaa
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| Fitch: AAA
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Class A-1F notes
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Amount: | $30 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 3.657%
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Ratings: | Moody’s: Aaa
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| Fitch: AAA
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Class A-2 notes
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Amount: | $15 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 175 bps
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Ratings: | Moody’s: Aaa
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| Fitch: AAA
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Class B-N notes
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Amount: | $37 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 190 bps
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Rating: | Moody’s: Aa2
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Class B-F notes
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Amount: | $13 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 4.225%
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Rating: | Moody’s: Aa2
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Class C notes
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Amount: | $32 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 265 bps
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Rating: | Moody’s: A2
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Class D notes
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Amount: | $26.5 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 390 bps
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Rating: | Moody’s: Baa3
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Class E notes
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Amount: | $26.5 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | Libor plus 695 bps
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Rating: | Moody’s: Ba3
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Equity
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Amount: | $46.45 million
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Securities: | Subordinated notes
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Ratings: | Non-rated
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