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GC Asia
MJX opens up 2021 CLO mart with pre-Covid structure
MJX Asset Management has opened up the US CLO market for the new year, with an actively managed deal with five year reinvestment period, the norm for the pre-Covid period. This paves the way for a flurry of CLOs that are expected to pop up in the coming four weeks, sources said.
The transaction is a $507.3m CLO via Jefferies as lead arranger and Bank of America as co-arranger. Some $283m in senior notes, rated triple-A by S&P Global Ratings, were sold at 133bp over three month Libor. The CLO has a five year reinvestment period and two year non
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