MJX Asset Management to price $618.2 million Venture XVIII CLO

By Cristal Cody

Tupelo, Miss., July 30 – MJX Asset Management LLC intends to price $618.2 million of notes due Oct. 15, 2026 in the Venture XVIII CLO, Ltd./Venture XVIII CLO LLC transaction, according to a market source.

The deal includes $271 million of class A notes (//AAA); $100 million of class A loans (//AAA); $69 million of class B notes; $51 million of class C notes; $33 million of class D notes; $65.2 million of class E notes and $65.2 million of subordinated notes.

RBC Capital Markets, LLC is the placement agent.

MJX Asset Management will manage the CLO, which is secured primarily by first-lien senior secured corporate loans.

The CLO will have a 2.1-year non-call period and a 4.1-year reinvestment period.

Proceeds from the deal will be used to purchase a portfolio of about $600 million of leveraged loans.

MJX Asset Management was most recently in the primary market on April 30 with the $716.7 million Venture XVII CLO Ltd./Venture XVII CLO LLC offering.

Venture XVIII CLO will be the firm’s third CLO deal of the year.

New York City-based MJX Asset Management priced three CLO transactions in 2013.

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