StormHarbour Securities LP (StormHarbour) today announces that it has priced the notes in a $614.5 million collateralized loan obligation transaction (CLO), Venture XV CLO Ltd. MJX Asset Management LLC is the manager of the CLO. StormHarbour acted as Lead Manager and co-Placement Agent for the notes and the equity. Mitsubishi UFJ Securities (USA), Inc. acted as co- lead manager and co-placement agent on the notes.
The anticipated closing date of the transaction is December 12, 2013. The closing is subject to customary closing conditions. StormHarbour was able to pre-place all the equity and arrange a warehouse line (including warehouse equity), thereby allowing the manager an extended period of time to ramp the portfolio.
Sohail Khan, Managing Principal of StormHarbour said: "The pre-placement of equity and provision of warehouse financing differentiated Venture XV from many deals done this year."
Venture XV CLO is the sceond CLO arranged and placed by StormHarbour this year, following the £512 million Longfellow Place CLO placed for Feingold O'Keeffe Capital LLC, the first CLO to be priced in 2013.