Venture XVIII to issue $618.2 million of notes via a refinancing

By Tali Rackner

Minneapolis, Oct. 3 – Venture XVIII CLO, Ltd./Venture XVIII CLO, LLC plans to issue $618.2 million of notes via a refinancing, according to a notice from trustee Citibank, NA.

Specifically, Venture XVIII intends to issue:

• $371 million of class A-R notes (Aaa (sf)//AAAsf);

• $69 million of class B-R notes (Aa1 (sf)//);

• $51 million of class C-R notes (A2 (sf)/);

• $33 million of class D-R notes (Baa3 (sf)/);

• $29 million of class E-R notes (Ba3 (sf)//); and

• $65.2 million of subordinated notes.

As part of the refinancing, Venture XVIII was directed by a majority of its subordinated noteholders to redeem its secured debt at par plus accrued interest to Oct. 16.

New York City-based MJX Asset Management LLC is the collateral manager.

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