Chicago, April 14 – MJX Asset Management LLC sold $512.5 million of notes due April 15, 2034 in a new collateralized loan obligation coming from Venture 42 CLO Ltd./Venture 42 CLO LLC, according to a pre-sale report.
The broadly syndicated CLO has $2 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $295 million of class A-1A senior secured floating-rate notes at Libor plus 113 bps, $10 million of class A-1B 2.28% senior secured fixed-rate notes, $10 million of class A-2 senior secured floating-rate notes at Libor plus 130 bps and $65 million of class B senior secured floating-rate notes at Libor plus 155 bps.
Lower, there are $30 million of class C senior secured deferrable floating-rate notes at Libor plus 215 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 325 bps and $18.75 million of class E senior secured deferrable floating-rate notes at Libor plus 730 bps.
There are also $51.5 million of subordinated notes.
Nomura Securities International Inc. is the placement agent.
MJX Asset Management will mange the collateral, primarily senior secured loans, cash and eligible investments.
The reinvestment period ends April 15, 2026.
The notes can be called starting on April 15, 2023.
MJX is an asset management firm based in New York City.
| Issuer: | Venture 42 CLO Ltd./Venture 42 CLO LLC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $512.5 million
|
| Maturity: | April 15, 2034
|
| Agent: | Nomura Securities International Inc.
|
| Manager: | MJX Asset Management LLC
|
| Call: | April 15, 2023
|
| Pricing date: | April 12
|
| Settlement date: | April 21
|
|
|
| Class X notes
|
| Amount: | $2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1A notes
|
| Amount: | $295 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.28%
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 130 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 730 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $51.5 million
|
| Securities: | Subordinated notes
|
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