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MJX prices $612.88 million CLO; MidCap brings $405.56 million middle-market deal
By Cristal Cody
Tupelo, Miss., July 26 – CLO deal action has been steady in both the broadly syndicated and middle-market spaces in July.
MJX Asset Management LLC affiliate MJX Venture Management LLC priced $612.88 million of notes in the manager’s third new broadly syndicated CLO deal of the year.
MidCap Financial Services Capital Management LLC priced $405.56 million of notes in its second new middle-market offering year to date.
CLO managers have priced more than $63 billion of broadly syndicated CLOs and more than $8 billion of middle-market CLOs year to date, according to market sources.
MJX places Venture 33 CLO
MJX Venture Management priced $612,875,000 of notes due July 15, 2031 in the Venture 33 CLO, Ltd./Venture 33 CLO, LLC transaction, according to market sources.
The CLO sold $307 million of class A-1L senior secured floating-rate notes at Libor plus 114 basis points at the top of the capital structure.
Jefferies LLC arranged the transaction.
The deal is backed primarily by broadly syndicated senior secured loans.
MJX priced two new CLOs and refinanced eight vintage CLOs in 2017.
The asset management firm is based in New York City.
MidCap prints Woodmont 2018-5
MidCap Financial Services Capital Management priced $405.56 million of notes due July 25, 2030 in a new middle-market CLO deal, according to a market source.
Woodmont 2018-5 Trust sold $220.75 million of the class A-1 senior secured floating-rate notes at Libor plus 145 bps.
Deutsche Bank Securities Inc. was the placement agent.
The deal is backed primarily by middle-market senior secured loans.
The CLO manager has priced two new CLOs year to date.
Mid-Cap priced three middle-market CLOs in 2017.
The Bethesda, Md.-based firm is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management LLC.
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