MJX Asset Management to refinance $384 million AAA notes from 2016 Venture XXV CLO

By Cristal Cody

Tupelo, Miss., Nov. 15 – MJX Asset Management LLC plans to refinance the AAA-rated notes from a 2016 broadly syndicated collateralized loan obligation offering, according to a notice of proposed supplemental indenture on Friday.

Venture XXV CLO, Ltd. intends to price $384 million of class A-R senior secured floating-rate notes (expected ratings Aaa//AAA).

Jefferies LLC and Mizuho Securities USA Inc. are the refinancing placement agents.

The notes are due April 20, 2029.

The reinvestment period ends March 20, 2021.

In the original $601.6 million transaction issued Dec. 20, 2016, the CLO priced $369 million of class A-1 senior secured floating-rate notes at Libor plus 149 basis points and $15 million of 3.1% class A-F senior secured fixed-rate notes.

The original CLO also had priced $68.5 million of class B senior secured floating-rate notes at Libor plus 200 bps; $15 million of class C-1 deferrable floating-rate notes at Libor plus 260 bps; $24.5 million of 4.45% class C-F deferrable fixed-rate notes; $12 million of class D-1 deferrable floating-rate notes at Libor plus 430 bps; $18.75 million of class D-2 deferrable floating-rate notes at Libor plus 421 bps; $29.25 million of class E deferrable floating-rate notes at Libor plus 716 bps and $49.6 million of subordinated notes.

Proceeds will be used to redeem the original notes.

MJX Asset Management is a New York City-based asset management company.

© 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.