By Cristal Cody
Tupelo, Miss., Dec. 23 – MJX Asset Management LLC priced $618.2 million of notes in the Venture XIX CLO, Ltd./Venture XIX CLO LLC transaction, according to a market source.
The CLO sold $280.4 million of class A floating-rate notes at Libor plus 160 basis points; $52.7 million of class B floating-rate notes at Libor plus 245 bps; $32.4 million of class C floating-rate notes at Libor plus 330 bps; $25.2 million of class D floating-rate notes at Libor plus 400 bps; $24.3 million of class E floating-rate notes at Libor plus 530 bps and $46.1 million of subordinated notes.
BNP Paribas Securities Corp. was the placement agent.
MJX Asset Management will manage the CLO.
MJX priced four CLO transactions in 2014, including the $512.77 million Venture XVI CLO Ltd./Venture XVI CLO LLC deal in February, the $716.7 million Venture XVII CLO Ltd./Venture XVII CLO LLC offering in April and the $618.2 million Venture XVIII CLO, Ltd./Venture XVIII CLO LLC transaction in August.
The New York City-based asset management company brought three CLO transactions in 2013.
| Issuer: | Venture XIX CLO, Ltd./Venture XIX CLO LLC
|
| Amount: | $461.1 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | MJX Asset Management LLC
|
| Pricing date: | Dec. 12
|
|
|
| Class A notes
|
| Amount: | $280.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class B notes
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| Amount: | $52.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 245 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
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| Amount: | $32.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
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| Amount: | $25.2 million
|
| Securities: | Floating-rate notes
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| Coupon: | Libor plus 400 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E notes
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| Amount: | $24.3 million
|
| Securities: | Floating-rate notes
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| Coupon: | Libor plus 530 bps
|
| Ratings: | Moody’s: Ba3 expected
|
|
|
| Equity tranche
|
| Amount: | $46.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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