CHICAGO–(BUSINESS WIRE)–March 22, 2022–
Monroe Capital LLC (“Monroe”) today announced the closing of a $457 million term debt securitization transaction known as Monroe Capital MML CLO XIII, LTD. The term financing was Monroe’s eighth new CLO issuance since 2018 and is secured by a portfolio of middle-market senior secured loans.
Monroe sold AAA to BB rated securities as well as subordinated notes. Monroe and its affiliates retained the majority of subordinated notes in the transaction. Deutsche Bank acted as lead manager, structuring agent and bookrunner, with Raymond James as co-manager. This transaction has been structured to meet and comply with European risk retention guidelines as well as US risk retention guidelines.
“It was a great execution in a tough market and we were very pleased to work with our partners Deutsche Bank and Raymond James. We were able to broaden our investor base across the capital stack and work with a very diverse group of investors. ‘new and existing investors,” said Jeremy VanDerMeid, portfolio manager of Monroe. “Our middle market CLO platform continues to offer investors around the world a unique avenue to invest in US middle market loans.”
Monroe’s CLO platform has over $4.1 billion in assets under management (“AUM”) with 13 mid-market CLO vehicles. Monroe has a proven 16-year track record as a manager of mid-market and heavily syndicated CLOs with the same senior investment team and portfolio manager, having successfully gone through multiple credit cycles. Our ability to combine the flow of direct-initiated proprietary deals with traditional mid-market syndicated deals continues to create a unique and diverse portfolio for CLO investors.
The company has approximately $12.7 billion in assets under management and a diversified private credit platform of more than 30 vehicles including direct loans and opportunistic credit funds, publicly traded BDCs and accounts, separately managed accounts and CLOs.
Monroe Capital LLC (“Monroe”) is a leading asset management company specializing in the private credit markets through various strategies, including direct lending, asset-based lending, specialty finance, opportunistic credit and structured and equity. Since 2004, the company has successfully provided capital solutions to clients in the United States and Canada. Monroe prides itself on being a value-added, friendly partner for business owners, management, and private and independent sponsors. Monroe’s platform offers a wide variety of investment products for institutional and high net worth investors with a focus on generating high quality ‘alpha’ returns regardless of business or economic cycles. The company is headquartered in Chicago and has offices in Atlanta, Boston, Los Angeles, Naples, New York, San Francisco and Seoul.
Monroe has been recognized by both peers and investors with various awards, including Private Debt Investor as 2021 Senior Lender of the Year, 2021 Lower Middle Market Lender of the Year, Americas; Creditflux as Best US Direct Lending Fund 2021; Global M&A Network as 2021 Mid-Market Lender of the Year, United States; and Pension Bridge as Private Credit Strategy of the Year 2020. For more information, visit www.monroecap.com.
CONTACT: Théodore L. Koenig
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
SECTOR KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
SOURCE: Monroe Capital LLC
Copyright BusinessWire 2022.
PUBLISHED: 03/22/2022 06:00 AM/DISC: 03/22/2022 06:02 AM
Copyright BusinessWire 2022.