By Cristal Cody
Tupelo, Miss., Aug. 10 – MJX Asset Management LLC repriced $50.7 million of notes from its Venture XXVIII CLO, Ltd./Venture XXVIII CLO, LLC transaction, according to a market source and an issuer notice.
The CLO sold the class B-FR senior secured notes with a 3.287% fixed-rate coupon.
Venture XXVIII priced the class C-FR mezzanine secured deferrable notes at a 4.25% coupon.
Jefferies LLC arranged the transaction.
MJX affiliate MJX Venture Management II LLC is the CLO manager.
Venture XXVIII originally sold $22,131,579 of class B-F notes at a 3.779% rate and $16,842,106 of 4.5% class C-F notes.
The original $537,100,003 CLO was issued July 18, 2017.
The notes are due July 20, 2030.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Proceeds will be used to redeem the original class B-F and C-F notes.
The asset management firm is based in New York City.
| Issuer: | Venture XXVIII CLO, Ltd./Venture XXVIII CLO, LLC
|
| Amount: | $50.7 million repricing
|
| Maturity: | July 20, 2030
|
| Securities: | Fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Jefferies LLC
|
| Manager: | MJX Venture Management II LLC
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 18
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class B-FR notes
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.287%
|
| Original coupon: | 3.779%
|
|
|
| Class C-FR notes
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 4.25%
|
| Original coupon: | 4.5%
|
|
|
|
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