Chicago, March 24 – MJX Venture Management II LLC refinanced two classes of notes from the Venture XXIX CLO, Ltd./Venture XXIX CLO, LLC transaction for $395.5 million, according to a notice and a supplemented indenture.
The two notes, at the top of the portfolio, are still due Sept. 7, 2030.
The refinancing notes are the $336 million of class A-R senior secured floating-rate notes at Libor plus 99 basis points and the $59.5 million of class B-R senior secured floating-rate notes at Libor plus 152 bps.
MJX Venture Management II is continuing to manage the portfolio through the end of the reinvestment period.
The three classes of secured notes and one class of subordinated notes from the original transaction will remain outstanding.
The non-call period has been extended in the refinancing to March 23, 2022.
J.P. Morgan Securities LLC is the refinancing placement agent.
MJX is a New York City-based asset management firm.
| Issuers: | Venture XXIX CLO, Ltd./Venture XXIX CLO, LLC
|
| Issue: | Floating-rate notes
|
| Structure: | Cash flow CLO
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| Amount: | $395.5 million
|
| Maturity: | Sept. 7, 2030
|
| Agent: | J.P. Morgan Securities LLC
|
| Manager: | MJX Venture Management II LLC
|
| Call: | March 23, 2022
|
| Settlement date: | March 23
|
|
|
| Class A-R notes
|
| Amount: | $336 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 99 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
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| Amount: | $59.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 152 bps
|
| Rating: | Moody's: Aa1
|
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