Monroe Capital closed a $406.27 million term debt securitization known as Monroe Capital MML CLO X, LTD. The term financing was Monroe’s fifth CLO completed since March 2018 and is secured by a portfolio of middle market senior secured loans.

Monroe sold securities rated from AAA through BB. Monroe and its affiliates retained a majority of the subordinated notes in the transaction. Deutsche Bank served as the lead manager, structuring agent and bookrunner. This transaction was structured to meet and comply with both European and U.S. risk retention guidelines.

“We were pleased to work with Deutsche Bank on this middle market CLO. This was a nice execution in a difficult market and we welcomed several new domestic and international investors into our middle market CLO platform. We also worked with existing investors and continue to value our relationships with these repeat investors,” Jeremy VanDerMeid, portfolio manager of Monroe Capital, said. “We continue to see strong demand from investors around the world as our middle market CLOs offer investors a unique entry point to access the U.S. middle market. We look forward to continuing the growth of our middle market CLO platform.”

Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit investing.