MJX Asset Management to price $525 million Venture XXIV CLO

By Cristal Cody

Eureka Springs, Ark., Aug. 5 – MJX Asset Management LLC plans to price $525 million of notes due Oct. 17, 2028 in the Venture XXIV CLO, Ltd. offering, backed by broadly syndicated loans, according to a market source.

The deal includes $100 million of class A-1 senior secured floating-rate notes (Aaa/); $30 million of class A-F senior secured fixed-rate notes (Aaa/); $50 million of class A-2a senior secured floating-rate notes (Aaa//); $50 million of class A-2a senior secured loans (Aaa//); $9 million of class A-2b senior secured floating-rate notes (Aaa//); $99 million of class A-3 senior secured floating-rate notes (Aaa//); $48 million of class B-1 senior secured floating-rate notes (Aa2//); $10 million of class B-F senior secured fixed-rate notes (Aa2//); $24.5 million of class C-1 mezzanine secured deferrable floating-rate notes (A2//); $10 million of class C-F mezzanine secured deferrable fixed-rate notes (A2//); $15 million of class D-1 mezzanine secured deferrable floating-rate notes (Baa2//); $12 million of class D-2 mezzanine secured deferrable floating-rate notes (baa2//); $25.5 million of class E junior secured deferrable floating-rate notes (Ba3//) and $42 million of subordinated notes.

Jefferies LLC is the placement agent.

MJX will manage the CLO.

The CLO has a two-year non-call period and a four-year reinvestment period.

MJX Asset Management has priced one CLO year to date.

The New York City-based asset management company priced three new CLO deals and refinanced one vintage CLO in 2015.

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