Press Releases
Monroe Capital Completes $400 Million Loan Securitization
Chicago, IL, January 10, 2007
Monroe Capital LLC, a Chicago-based specialty finance company, announced the closing of a $400 million collateralized loan obligation (CLO) as of year-end 2006.
“This is an exciting milestone for Monroe. It validates the quality of our team and our success in the market,” said Theodore L. Koenig, President and Chief Executive Officer. “This transaction expands our capabilities and our capital base and gives us greater flexibility and strength as we kick off 2007.”
Monroe Capital Management LLC acts as the manager of the CLO which has a five-year reinvestment period. Wachovia Securities acted as the lead manager and as structuring and placement agent. Mary Katherine Dubose, Managing Director at Wachovia, noted that, “Wachovia is excited to team with Monroe. The Monroe platform was very well received by investors as reflected in very strong execution as a first time issuer.”
The collateralized loan portfolio is comprised of mostly middle-market structured finance assets. The class A through E notes are rated by two rating agencies.
Monroe Capital is a specialty finance company and one of the most active providers of junior secured and senior debt to middle-market companies. Monroe Capital specializes in originating, structuring and providing customized one-stop financings to U.S. and Canadian borrowers in amounts typically ranging from $3 million to $50 million with the ability to agent and syndicate larger transactions. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and transaction sponsors. Investment types include senior and junior secured debt as well as bridge loans, flexible acquisition facilities, mezzanine or last-out second loans that stretch a company’s debt capacity, acquisitions of distressed debt, and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. To learn more about Monroe Capital, visit www.monroecap.com.