MJX prices $618.2 million reset of 2014 CLO; Trimaran brings $695.8 million CLO reset

By Cristal Cody

Tupelo, Miss., Oct. 17 – MJX Asset Management LLC affiliate MJX Venture Management LLC detailed a $618.2 million refinancing and reset of a vintage 2014 CLO.

In other pricing action, Trimaran Advisors, LLC sold $695.8 million of notes in a refinancing and reset of an upsized 2014 CLO. The offering is the CLO manager’s first deal in the market in 2017.

CLO refinancing and reset action remains strong with about $125 billion of vintage deals priced year to date, sources report.

In its deal, MJX Venture Management priced $618.2 million of notes in a refinancing and reset of the 2014 Venture XVIII CLO, Ltd./Venture XVIII CLO, LLC transaction, according to a market source and a notice of executed amended and restated indenture on Monday.

The CLO sold $371 million of class A-R senior secured floating-rate notes at Libor plus 122 basis points in the senior tranche.

Jefferies LLC arranged the transaction.

The maturity on the refinanced notes was extended to Oct. 15, 2029 from the original Oct. 15, 2026 maturity.

The original $618.2 million CLO was issued on Aug. 27, 2014.

Meanwhile, Trimaran Advisors priced $695.8 million of notes in a refinancing and reset of the upsized Catamaran CLO 2014-1 Ltd./Catamaran CLO 2014-1 LLC transaction, according to a market source and a news release on Monday.

Final pricing details were not immediately available.

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