By Cristal Cody
Tupelo, Miss., Feb. 7 – Monroe Capital LLC priced $456.3 million of notes due April 15, 2030 in a new middle-market CLO transaction, according to an informed source.
Monroe Capital MML CLO VI, Ltd./Monroe Capital MML CLO VI, LLC sold $252 million of class A floating-rate notes at Libor plus 145 basis points, $49.5 million of class B floating-rate notes at Libor plus 175 bps, $36 million of class C floating-rate notes at Libor plus 225 bps, $28,125,000 of class D floating-rate notes at Libor plus 340 bps, $28,125,000 of class E floating-rate notes at Libor plus 690 bps and $62.55 million of subordinated notes.
Deutsche Bank Securities Inc. arranged the transaction.
Monroe Capital will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
Proceeds will be used to purchase a portfolio of mostly middle-market loans.
Monroe Capital is a middle-market lender and private credit asset management firm based in Chicago.
| Issuer: | Monroe Capital MML CLO VI, Ltd./Monroe Capital MML CLO VI, LLC
|
| Amount: | $456.3 million
|
| Maturity: | April 15, 2030
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Monroe Capital LLC
|
| Call feature: | Two years
|
| Pricing date: | Feb. 1
|
| Settlement date: | March 15
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $49.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $28,125,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $28,125,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 690 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $62.55 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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