Monroe Capital closed a $502.5 million term debt securitization known as Monroe Capital MML CLO XIV, LTD. The term financing was Monroe’s second new collateralized loan obligation completed in 2022 and is secured by a portfolio of middle-market senior secured loans.
Monroe sold securities rated from AAA through BB as well as subordinated notes. Monroe and its affiliates retained a majority of the subordinated notes in the transaction. BNP Paribas 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.
“This was a nice execution and we were very pleased to work with BNP Paribas. We were able to upsize the CLO due to strong investor demand,” Jeremy VanDerMeid, portfolio manager of Monroe Capital, said. “Our ability to blend proprietary directly originated deal flow with the traditional middle-market syndicated transactions continues to create a unique, diversified portfolio for CLO investors.”
Monroe’s CLO platform has more than $4.3 billion of assets under management and 13 active middle-market CLO vehicles.
