Monroe Capital LLC has closed a $505 million term debt securitization known as Monroe Capital MML CLO XII Ltd. The term financing was Monroe’s seventh CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.
“This was our first middle market CLO with SMBC as lead arranger and we were very pleased with the execution. We received very strong demand from new and existing investors around the world and we upsized the transaction to $505 million,” said Jeremy VanDerMeid, portfolio manager of Monroe. “We continue to see improving credit metrics across our portfolios and we look forward to steady growth in our middle market CLO platform.”
Monroe sold securities rated from AAA through BB. Monroe and its affiliates retained a majority of the subordinated notes in the transaction. SMBC served as the lead manager, structuring agent and bookrunner, with Raymond James served as co-manager.