By Cristal Cody
Tupelo, Miss., March 3 – MJX Asset Management LLC priced $510.5 million of notes due April 15, 2033 in the new issue Venture 39 CLO, Ltd./Venture 39 CLO, LLC deal, according to market sources on Tuesday.
The broadly syndicated CLO sold $2 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $310 million of class A-1 senior secured floating-rate notes at Libor plus 128 bps, $15 million of class A-2 senior secured floating-rate notes at Libor plus 160 bps and $50 million of class B senior secured floating-rate notes at Libor plus 180 bps.
The CLO also priced $27.5 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 225 bps, $30.5 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 425 bps, $27 million of class E junior secured deferrable floating-rate notes at Libor plus 763 bps and $48.5 million of subordinated notes.
Nomura Securities International, Inc. was the placement agent.
The CLO will be managed by MJX Venture Management III LLC and has a two-year non-call period and five-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
MJX is an asset management firm based in New York City.
Issuer: | Venture 39 CLO, Ltd./Venture 39 CLO, LLC
|
Amount: | $510.5 million
|
Maturity: | April 15, 2033
|
Securities: | Floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | Nomura Securities International, Inc.
|
Manager: | MJX Venture Management III LLC
|
Call feature: | Two years
|
Notice date: | March 3
|
Settlement date: | March 30
|
|
Class X notes
|
Amount: | $2 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 75 bps
|
Rating: | Moody’s: Aaa
|
|
Class A-1 notes
|
Amount: | $310 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 128 bps
|
Rating: | Moody’s: Aaa
|
|
Class A-2 notes
|
Amount: | $15 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 160 bps
|
Rating: | Moody’s: Aaa
|
|
Class B notes
|
Amount: | $50 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 180 bps
|
Rating: | Moody’s: Aa2
|
|
Class C notes
|
Amount: | $27.5 million
|
Securities: | Mezzanine secured deferrable floating-rate notes
|
Coupon: | Libor plus 225 bps
|
Rating: | Moody’s: A2
|
|
Class D notes
|
Amount: | $30.5 million
|
Securities: | Mezzanine secured deferrable floating-rate notes
|
Coupon: | Libor plus 425 bps
|
Rating: | Moody’s: Baa3
|
|
Class E notes
|
Amount: | $27 million
|
Securities: | Junior secured deferrable floating-rate notes
|
Coupon: | Libor plus 763 bps
|
Rating: | Moody’s: Ba3
|
|
Equity
|
Amount: | $48.5 million
|
Securities: | Subordinated notes
|
Ratings: | Non-rated
|
© 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.