Monroe Capital lifts revolver to $160 million, extends, cuts pricing

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – Monroe Capital Corp. expanded, reduced pricing of and extended its syndicated revolving credit facility led by ING Capital LLC, according to a Tuesday press release.

The amendment lifted the revolver’s commitments to $160 million from $135 million and expanded its accordion feature to $300 million from $200 million.

Pricing has been immediately reduced by 25 basis points to Libor plus 300 bps and will drop to Libor plus 275 bps if the company’s net worth exceeds $225 million.

The maturity has been extended to Dec. 14, 2020 from Dec. 19, 2017.

The amended facility also includes more flexible terms regarding eligible collateral and advance rates against certain portfolio assets, according to the release.

The company said the additional commitments will allow for future growth.

Chicago-based Monroe Capital is a specialty finance company that principally invests in debt and equity investments of middle-market companies.

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