Maples and Calder and Maples Fiduciary have assisted MJX Asset Management (“MJX“) on its dual compliant $528 million Venture XXVI CLO – the first new-issue CLO of the year globally. The deal, which priced on 19 January 2017, was arranged by Jefferies and closed on 14 February 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% 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.

Mark Matthews, global head of Maples and Calder’s Finance practice, commented: “We are pleased to have assisted our client with the first CLO to get out the door in 2017 and we look forward to continuing to work with MJX. This transaction exemplifies the Maples group’s comprehensive CLO offering, where we provide global legal, listing and fiduciary services for all aspects of a CLO manager’s business.”

ENDS

About Maples and Calder

Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands. Maples and Calder has offices in the British Virgin Islands, Cayman Islands, Dubai, Dublin, Hong Kong, London and Singapore.

With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers who are specialists in their respective practice areas.

Established in 1967, Maples and Calder celebrates 50 years of award winning excellence in 2017.

About MaplesFS

MaplesFS, through its divisions Maples Fiduciary, Maples Fund Services and Maples Private Client Services, is an independent global provider of specialised fiduciary, corporate formation, administration and trust and private client services. With offices in key locations around the world, its clients include global financial institutions, institutional investors, investment managers and international corporations.

MaplesFS leverages its affiliation with international law firm, Maples and Calder, to provide professional and timely advice that draws upon jurisdictional knowledge and experience. For more information, please visit www.maplesfs.com.