MJX prices $537.1 million in manager’s second new CLO of year; secondary volume thin

By Cristal Cody

Tupelo, Miss., June 21 – MJX Asset Management LLC sold $537,100,003 of CLO notes in the firm’s second new offering of the year.

More than $37 billion of new issue CLOs have priced year to date, according to market sources.

In other activity, securitized secondary trading activity has been light over the week. High-grade volume totaled $34.16 million on Tuesday, while $47.39 million of non-high-grade CBO/CDO/CLO issues were traded during the session, according to Trace.

On Monday, $39.64 million of investment-grade issues and $54.41 million of non-high-grade securities were traded.

MJX Asset Management priced $537,100,003 of notes due July 20, 2030 in the Venture XXVIII CLO, Ltd./Venture XXVIII CLO, LLC transaction, according to market sources.

The CLO sold $132,631,579 of class A-1 senior secured floating-rate notes at Libor plus 128 basis points at the top of the capital structure.

Jefferies LLC and MUFG arranged the transaction.

MJX affiliate MJX Venture Management II LLC will manage the CLO.

MJX has priced two new CLOs and refinanced two vintage CLOs year to date.

The New York City-based asset management firm priced three new CLO transactions and refinanced three CLOs in 2016.

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