Monroe Capital LLC announced the closing of a $456.34 million term debt securitization known as Monroe Capital MML CLO VIII Ltd.
The term financing was Monroe’s third collateralized loan obligation completed in the last 15 months 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 European risk and U.S. risk retention guidelines.
“Our middle market CLO business remains a critical component to the broader Monroe platform,” Monroe Portfolio Manager Jeremy VanDerMeid said in a statement. “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 were pleased to work with Deutsche Bank on this transaction and we look forward to continuing the growth of our middle-market CLO platform.”
Monroe Capital 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.
The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York and San Francisco. It was named the 2018 Lender of the Year by Mergers & Acquisitions, an independent New York City based publication covering all aspects of middle-market dealmaking.