Daily News: November 13, 2014

Monroe Credit Advisors Places SafeGuard Facility

Monroe Credit Advisors announced that it placed a $15 million senior secured credit facility for UK-based SafeGuard World International. SafeGuard is a provider of global payroll, employment outsourcing and human resources services. Proceeds of the facility were used to finance a number of growth and technology initiatives.

Brent Krambeck, co-managing partner of Monroe Credit Advisors, said, “We are very pleased that we were able to deliver a debt solution for this highly energized management team. SafeGuard historically had pursued equity to help finance growth and was engaged in that process prior to our involvement. We believed that the company would be attractive to venture debt investors that could understand the credit attributes and value proposition of the business. Through our materials and process, we were able to deliver six different debt options for the company to consider which were all significantly less expensive than equity.”

SafeGuard’s products enable Fortune 500 and other mid-market multinational enterprises to manage their global payroll requirements under a single platform.

Bjorn Reynolds, SafeGuard’s CEO, said, “SafeGuard World International is leading the market in the field of global payroll; however, we want to continue to invest in the global payroll cloud to further enhance our users experience. Monroe Credit Advisors performed brilliantly helping us secure a lending partner that will be key to executing our growth plans. They created a number of financing options for us to consider and were a great outsourced solution for our organization.”

Cross Border Strategies advised on cross-border structure and international secured lending customs and practices.