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Monroe Capital Closes $406.27 Million Collateralized Loan Obligation Transaction
August 27, 2020
Source: Monroe Capital LLC
Monroe Capital LLC (“Monroe”) today announced the closing of a $406.27 million term debt securitization known as Monroe Capital MML CLO X, LTD. The term financing was Monroe’s fifth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.
Monroe sold securities rated from AAA through BB. Monroe and its affiliates retained a majority of the Subordinated Notes in the transaction. Deutsche Bank served as the Lead Manager, Structuring Agent and Bookrunner. This transaction was structured to meet and comply with both the European risk retention guidelines as well as U.S. risk retention guidelines.
“We were pleased to work with Deutsche Bank on this middle market CLO. This was a nice execution in a difficult market and we welcomed several new domestic and international investors into our middle market CLO platform. We also worked with existing investors and continue to value our relationships with these repeat investors” said Jeremy VanDerMeid, Portfolio Manager of Monroe. “We continue to see strong demand from investors around the world as our middle market CLOs offer investors a unique entry point to access the U.S. middle market. We look forward to continuing the growth of our middle market CLO platform.”
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2020 Best U.S. Direct Lending Fund; Global M&A Network as the 2020 Small Middle Markets Lender of the Year; Private Debt Investor as the 2018 Lower Mid-Market Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.
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