Chicago, Oct. 21 – Monroe Capital LLC priced $453.15 million of notes due October 2031 in a middle-market CLO transaction, according to market sources.
Monroe Capital MML CLO IX, Ltd./Monroe Capital MML CLO IX, LLC sold $252 million of class A floating-rate notes at Libor plus 175 basis points; $45 million of class B floating-rate notes at Libor plus 250 bps; $40.5 million of class C floating-rate notes at Libor plus 350 bps; $27 million of class D floating-rate notes at Libor plus 460 bps and $29.25 million of class E floating-rate notes at Libor plus 842 bps.
The deal also included $59.4 million of subordinated notes.
BNP Paribas Securities Corp. was the underwriter.
Monroe Capital affiliate Monroe Capital Asset Management LLC will manage the CLO, which has a two-year non-call period and a four-year reinvestment period.
The CLO is secured primarily by non-investment-grade middle market loans.
Monroe Capital currently manages nine CLOs.
The middle-market lender and private credit asset management firm is based in Chicago.
| Issuer: | Monroe Capital MML CLO IX, Ltd./Monroe Capital MML CLO IX, LLC
|
| Amount: | $453.15 million
|
| Maturity: | October 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Middle-market CLO
|
| Underwriter: | BNP Paribas Securities Corp.
|
| Manager: | Monroe Capital Asset Management LLC
|
| Call feature: | Two years
|
| Announcement date: | Oct. 21
|
| Settlement date: | Nov. 13
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $45 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $40.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 460 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $29.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 842 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $59.4 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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