MJX Asset Management prices firm’s third new CLO; Arrowpoint refinances $331.2 million

By Cristal Cody

Eureka Springs, Ark., Nov. 28 – MJX Asset Management LLC priced the firm’s third new CLO transaction of the year.

The CLO manager brought $601.6 million in nine tranches, including fixed- and floating-rate notes.

In other pricing action, details emerged on Arrowpoint Asset Management LLC’s $331.2 million refinancing on Friday of a vintage 2013 deal.

MJX Asset Management sold $601.6 million of notes due April 20, 2029 in a new broadly syndicated CLO offering, according to a market source.

Venture XXV CLO, Ltd. priced $369 million of class A-1 senior secured floating-rate notes at Libor plus 149 basis points in the senior tranche.

Jefferies LLC was the placement agent.

Proceeds from the deal will be used to purchase a portfolio of $525 million of mostly senior secured leveraged loans.

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

Meanwhile, Arrowpoint Asset Management refinanced $331.2 million of notes in a vintage 2013 CLO deal, according to a market source and a notice of second revised proposed second supplemental indenture.

Arrowpoint CLO 2013-1 Ltd./Arrowpoint CLO 2013-1 LLC sold $225.72 million of class A-1R floating-rate notes at Libor plus 152 bps in the AAA-rated tranche.

Goldman Sachs & Co. arranged the refinancing.

The maturity on the refinanced notes was extended by four years to Nov. 15, 2028.

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