MJX Asset Management refinances Venture X, XV CLOs; Carlson Capital, Prudential refinance

By Cristal Cody

Eureka Springs, Ark., Oct. 13 – Three CLO managers refinanced four vintage CLO deals, according to market sources.

MJX Asset Management LLC refinanced $344.39 million of notes in a vintage 2012 CLO and $553.5 million of notes in a vintage 2013 CLO.

Carlson Capital, LP refinanced $219.8 million of notes in a 2013 CLO deal.

Prudential Investment Management, Inc. affiliate PGIM, Inc. refinanced $503.4 million of notes from a CLO originally priced in 2012.

MJX refinances Venture X

MJX Asset Management refinanced $344.39 million of notes due July 20, 2022 in the vintage 2012 broadly syndicated CLO offering, according to a market source.

Venture X CLO, Ltd. priced $243.14 million of class A-R floating-rate notes at Libor plus 122 basis points in the senior tranche.

Jefferies LLC was the refinancing agent.

Proceeds will be used to redeem the original class A, B, C and D notes on the Oct. 20 refinancing date.

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

The asset management company is based in New York City.

MJX prices $553.5 million

MJX Asset Management refinanced $553.5 million of notes in the vintage 2013 broadly syndicated Venture XV CLO, Ltd. offering, according to a market source.

The CLO sold $374 million of the class A-R floating-rate notes at Libor plus 152 bps.

Jefferies LLC was the refinancing agent.

The maturity on the refinanced notes will be extended to July 15, 2028 from the original July 15, 2025 maturity.

Proceeds from the deal will be used to redeem the original notes on Oct. 17.

MJX Asset Management has priced two new CLO transactions and refinanced two CLOs year to date.

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

Carlson Capital refinances

Carlson Capital refinanced $219.8 million of notes due Jan. 15, 2026 from the Cathedral Lake CLO 2013 Ltd. transaction, according to a market source.

The CLO priced the class A-1-R floating-rate notes at Libor plus 140 bps.

Goldman Sachs & Co. arranged the refinancing.

Carlson Capital will use the proceeds to redeem the CLO’s original class A-1A and class A-1B notes.

Carlson Capital has priced one new CLO and refinanced one vintage CLO year to date.

The Dallas-based alternative asset management firm in 2015 priced two CLO deals.

PGIM brings CLO refinancing

PGIM refinanced $503.4 million of notes due Jan. 15, 2025 in a vintage 2012 CLO deal, according to a market source.

Dryden XXV Senior Loan Fund priced $386.4 million of class A-R floating-rate notes at Libor plus 120 bps at the top of the capital structure.

Morgan Stanley & Co. LLC was the refinancing agent.

Proceeds will be used to redeem the original notes.

Prudential Investment Management has priced three U.S. CLOs and refinanced one vintage CLO year to date.

The primary asset management business of Newark, N.J.-based Prudential Financial Inc. priced four CLO deals in 2015.

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