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Monroe Capital Closes $457MM Collateralized Loan Obligation Transaction

March 22, 2022, 07:55 AM
Filed Under: Industry News

Monroe Capital closed a $457 million term debt securitization known as Monroe Capital MML CLO XIII, LTD. The term financing was Monroe’s eighth new issue CLO completed since 2018 and is secured by a portfolio of middle market senior secured loans.

Monroe sold securities rated from AAA through BB as well as Subordinated Notes. 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, with Raymond James serving as Co-manager. This transaction was structured to meet and comply with both the European risk retention guidelines as well as U.S. risk retention guidelines.

“This was a nice execution in a challenging market and we were very pleased to work with our partners Deutsche Bank and Raymond James. We were able to expand our investor base across the capital stack and work with a very diverse group of 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 U.S. middle market loans.”

Monroe’s CLO platform has over $4.1 billion assets under management (“AUM”) with 13 middle market CLO vehicles. Monroe has a proven 16-year track record as both a middle market and broadly syndicated CLO manager with the same senior investment team and portfolio manager, having successfully navigated multiple credit cycles. Our ability to blend proprietary directly originated deal flow with the traditional middle market syndicated transactions continues to create a unique, diversified portfolio for CLO investors.

The firm has approximately $12.7 billion AUM and a diversified private credit platform of 30+ vehicles comprised of direct lending and opportunistic credit funds, a publicly traded and private BDCs, separately managed accounts, and CLOs.

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