MJX, Sound Point, PineBridge, THL, Neuberger refinance CLOs; middle-market CLO resets

By Cristal Cody

Tupelo, Miss., Oct. 18 – Details emerged on several CLO refinancing transactions that closed in the past week.

CLO managers have refinanced and/or reset about $125 billion of vintage CLOs year to date, according to market sources.

MJX Asset Management LLC affiliate MJX Venture Management LLC priced $612.5 million of notes in a refinancing of a 2015 CLO. The manager also closed this month on the previously reported $618.2 million of notes refinancing and reset of the 2014 Venture XVIII CLO, Ltd./Venture XVIII CLO, LLC transaction.

In other broadly syndicated CLO refinancing action, Sound Point Capital Management LP, PineBridge Investments LLC, THL Credit Senior Loan Strategies LLC and Neuberger Berman Investment Advisers LLC refinanced CLOs.

Also, Madison Capital Funding LLC priced $395.75 million of notes in a refinancing and reset of a 2014 middle-market CLO.

In its deal, THL Credit Senior Loan Strategies priced $400.25 million of notes due Oct. 15, 2027 in a refinancing of the vintage 2015 THL Credit Wind River 2015-2 CLO Ltd./THL Credit Wind River 2015-2 LLC transaction, according to a notice of revised proposed supplemental indenture on Tuesday.

The CLO sold $230.4 million of class A-1-R senior secured floating-rate notes at Libor plus 87 basis points at the top of the stack.

J.P. Morgan Securities LLC was the refinancing placement agent.

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