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Capital One Closes $100MM Revolver for Monroe Capital

March 27, 2018, 08:00 AM
Filed Under: Lender Finance

Capital One announced that it served as the administrative agent and sole lender for a $100 million five-year senior secured line of credit for MRCC Senior Loan Fund I, LLC, a joint venture between Monroe Capital Corporation (MRCC), the business development company affiliate of Monroe Capital LLC, and NLV Financial Corporation, the parent of National Life Insurance Company, a national insurance company headquartered in Vermont.  The secured line of credit has an accordion feature allowing the facility to expand up to $250 million to accommodate growth in the MRCC Senior Loan Fund portfolio.

“We worked closely with Monroe to create terms that work for both parties and that can be scaled over time,” said John Walsh, Managing Director at Capital One’s Financial Institutions Group. “Monroe is a successful middle market lender and we are proud to have this relationship.”

Monroe is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. With approximately $5.2 billion of committed and managed capital under management, the firm has been one of the most active investors in the middle market, investing in over 1,200 transactions since its inception.

“Capital One has been a very responsive partner,” said James M. Cassady, Monroe’s Managing Director of Fund Compliance & Finance. “Capital One worked with us to design a highly customized and flexible leverage facility that will allow our new JV to generate higher returns.  They quickly created new versions of the loan documents as we worked toward closing. We look forward to working with the Capital One team for years to come."

Capital One’s Financial Institutions Group is dedicated to the lender finance market and works with a wide variety of non-bank financial institutions and asset managers. The team is focused on providing customized lending, advisory, and financing products and solutions—including asset securitization, recourse financing, and interest-rate hedging.


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