Monroe Capital expands four-year revolver to $110 million, cuts rate

By Susanna Moon

Chicago, Dec. 19 - Monroe Capital Corp. said it raised the size of its revolving loan commitments to $110 million and extended the maturity to Dec. 19, 2017.

Monroe amended its bank revolving credit facility led by ING Capital LLC, reducing pricing and adding more flexible terms for eligible collateral, according to a company press release.

Pricing was cut by 50 basis points to Libor plus 325 bps, stepping down to Libor plus 300 bps when equity capitalization exceeds $175 million.

The amended four-year facility was pushed out from Oct. 21, 2016, and the commitments were increased from $95 million.

The facility includes an expansion of the accordion feature to $200 million from $100 million to facilitate future expansion in order to accommodate growth for the business development company, the press release noted.

Chicago-based Monroe Capital is a specialty finance company that principally invests in debt and equity investments of middle-market companies.

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