| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Meridian Funds > News item |
MJX Asset Management prices firm’s third new CLO; Arrowpoint refinances $331.2 million
By Cristal Cody
Eureka Springs, Ark., Nov. 28 – MJX Asset Management LLC priced the firm’s third new CLO transaction of the year.
The CLO manager brought $601.6 million in nine tranches, including fixed- and floating-rate notes.
In other pricing action, details emerged on Arrowpoint Asset Management LLC’s $331.2 million refinancing on Friday of a vintage 2013 deal.
MJX raises $601.6 million
MJX Asset Management sold $601.6 million of notes due April 20, 2029 in a new broadly syndicated CLO offering, according to a market source.
Venture XXV CLO, Ltd. priced $369 million of class A-1 senior secured floating-rate notes at Libor plus 149 basis points in the senior tranche.
Jefferies LLC was the placement agent.
Proceeds from the deal will be used to purchase a portfolio of $525 million of mostly senior secured leveraged loans.
MJX Asset Management has priced three new CLO transactions and refinanced two CLOs year to date.
The New York City-based asset management company brought three new CLO deals and refinanced one vintage CLO in 2015.
Arrowpoint refinances
Arrowpoint Asset Management refinanced $331.2 million of notes in a vintage 2013 CLO deal, according to a market source and a notice of second revised proposed second supplemental indenture.
Arrowpoint CLO 2013-1 Ltd./Arrowpoint CLO 2013-1 LLC sold $225.72 million of class A-1R floating-rate notes at Libor plus 152 bps in the AAA-rated tranche.
Goldman Sachs & Co. arranged the refinancing.
The maturity on the refinanced notes was extended by four years to Nov. 15, 2028.
The non-call period ends Nov. 15, 2018. The reinvestment period is set to end on Nov. 15, 2020.
Proceeds from the transaction were used to redeem the original class A1, A2, B, C and D notes.
The CLO is backed primarily by broadly syndicated senior secured corporate loans.
Denver-based Arrowpoint Asset Management is the investment adviser arm of Meridian Funds.
© 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.