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Monroe Capital Completes Optional Redemption of MC Funding 2006-1 CLO

May 05, 2016, 07:37 AM
Filed Under: Industry News

Monroe Capital completed the successful optional redemption of 100% of the Notes for MC Funding 2006-1, a middle market CLO that closed on December 21, 2006.  The $409.5 million-middle market CLO, managed by Monroe Capital Management LLC, generated a 21.1% net cash on cash return on the $43.5 million equity tranche through March 21, 2016.  The CLO continues to own certain illiquid loans and equity securities and intends to liquidate these securities in an orderly manner with a view to maximizing the final return to the preferred shareholders. 
Monroe Capital Management LLC is a diversified CLO manager with middle market and broadly syndicated CLOs under management.  Monroe’s CLO platform is managed by Jeremy VanDerMeid, who joined the firm in 2007 after previous jobs with Morgan Stanley Van Kampen and Heller Financial.  Recent CLO pricings include Monroe Capital CLO 2014-1, a $358.1 million middle market CLO, and Monroe Capital BSL CLO 2015-1, a $412.0 million broadly syndicated CLO.  Monroe structured these CLOs to be in compliance with European risk retention and expects to structure future middle market and broadly syndicated CLOs to be compliant with both European and U.S. risk retention regulations. 
Monroe Capital LLC is a leading 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, asset-based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe has been recognized by Global M&A Network as the 2015, 2014, and 2013 Small Middle Markets Lender of the Year; Private Debt Investor as the 2015 Lower Mid-Market Lender of the Year, the 2014 Senior Lender of the Year, and the 2013 Unitranche Lender of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year.

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