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Monroe Capital Amends Facility With ING, Expands Commitments to $160MM

December 16, 2015, 07:48 AM
Filed Under: Investment Financing

Monroe Capital Corporation announced an amendment and  extension of its syndicated credit facility led by ING Capital LLC, which includes a reduction in pricing and an expansion in commitments.

The amended facility includes an increase in the size of the current revolver commitments to $160 million from $135 million, and an expansion of the accordion feature to $300 million from $200 million, to facilitate future expansion in order to accommodate growth for the Company. The amended facility immediately reduces pricing by 25 basis points to LIBOR plus 3.00% per annum, with a further step-down to LIBOR plus 2.75% when net worth exceeds $225 million. The amended facility has a five-year maturity, extending the maturity date from December 19, 2017 to December 14, 2020. The amended facility also includes more flexible terms regarding eligible collateral and advance rates against certain portfolio assets.

Monroe Capital Corporation is a publicly-traded specialty finance company that principally invests in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments in middle-market companies. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. The Company’s investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC.

Monroe Capital LLC is a provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments.

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