Chicago, Feb. 19 – MJX Venture Management II LLC refinanced $486.5 million in three classes of notes from the Venture XXVII CLO, Ltd. collateralized loan obligation offering due July 22, 2030, according to a market source.
The refinancing includes the $384 million of class A-R senior secured floating-rate notes at Libor plus 105 basis points, $72 million of class B-R senior secured floating-rate notes at Libor plus 160 bps and $30.5 million of class C-R mezzanine secured deferrable floating-rate notes at Libor plus 230 bps.
MJX Venture Management II will continue to manage the CLO over the year and a half remaining on the reinvestment period.
The collateral for the notes primarily consists of a portfolio of broadly syndicated senior secured corporate loans.
The non-call period has been extended in the refinancing.
MJX is a New York City-based asset management firm.
| Issuer: | Venture XXVII CLO, Ltd.
|
| Amount: | $486.5 million
|
| Maturity: | July 22, 2030
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Manager: | MJX Venture Management II LLC
|
| Announcement date: | Feb. 19
|
|
|
| Class A-R notes
|
| Amount: | $384 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 105 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
|
| Amount: | $72 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-R notes
|
| Amount: | $30.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody's: A2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
