Daily News: March 27, 2018

Capital One Closes $100MM Revolver for Monroe Capital

Capital One served as administrative agent and sole lender on a $100 million five-year senior secured line of credit for MRCC Senior Loan Fund I, a joint venture between Monroe Capital and NLV Financial, the parent of National Life Insurance Company, a national insurance company headquartered in Vermont. The secured line of credit has an accordion feature allowing the facility to expand up to $250 million to accommodate growth in the MRCC Senior Loan Fund portfolio.

“We worked closely with Monroe to create terms that work for both parties and that can be scaled over time,” said John Walsh, managing director at Capital One’s Financial Institutions Group. “Monroe is a successful middle market lender and we are proud to have this relationship.”

Monroe is a private credit asset management firm specializing in direct lending and opportunistic private credit investing with a focus on the middle market.

“Capital One has been a very responsive partner,” said James M. Cassady, Monroe’s managing director of Fund Compliance and Finance. “Capital One worked with us to design a highly customized and flexible leverage facility that will allow our new JV to generate higher returns. They quickly created new versions of the loan documents as we worked toward closing. We look forward to working with the Capital One team for years to come.”