Maples Group assists MJX Asset Management

Maples and Calder and Maples Fiduciary have assisted MJX Asset Management (“MJX”) on its dual compliant USD528 million Venture XXVI CLO – the first new-issue CLO of the year globally.  The deal, which priced on January 19, 2017, was arranged by Jefferies and closed on February 14, 2017.

In addition to providing Cayman Islands legal advice to the issuer and MJX, and listing services in Ireland, Maples and Calder also advised on the risk retention structure for the deal, which saw the Collateral Manager retain a 5 per cent vertical strip in the issue in order to comply with risk retention requirements in both the US and Europe.  Maples Fiduciary in the Cayman Islands provides fiduciary services to the issuer.

The Maples and Calder team was led by Partner Scott Macdonald and Associate James Reeve, while the Maples Fiduciary team was led by Senior Vice Presidents Andrew Dean and Cleveland Stewart.