By Cristal Cody
Tupelo, Miss., May 12 – Monroe Capital Management, LLC priced a $412 million middle market-backed collateralized loan obligation offering, a market source said.
Monroe Capital CLO 2015-1 Ltd. priced $252 million of class A floating-rate notes at Libor plus 143 basis points; $48 million of class B floating-rate notes at Libor plus 220 bps; $21 million of class C floating-rate notes at Libor plus 310 bps; $24 million of class D floating-rate notes at Libor plus 395 bps; $22 million of class E floating-rate notes at Libor plus 600 bps; $8 million of class F floating-rate notes at Libor plus 700 bps and $37 million of subordinated notes.
BNP Paribas Securities Corp. arranged the deal.
Monroe Capital Management will manage the CLO.
The Chicago-based middle market commercial lending firm, an affiliate of Monroe Capital LLC, brought one CLO deal in 2014.
| Issuer: | Monroe Capital CLO 2015-1 Ltd.
|
| Amount: | $412 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Monroe Capital Management, LLC
|
| Pricing date: | May 1
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 143 bps
|
| Ratings: | Moody’s: Aaa (expected)
|
| Standard & Poor’s: AAA (expected)
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Moody’s: Aa2 (expected)
|
|
|
| Class C notes
|
| Amount: | $21 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | Moody’s: A2 (expected)
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 395 bps
|
| Rating: | Moody’s: Baa3 (expected)
|
|
|
| Class E notes
|
| Amount: | $22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 600 bps
|
| Rating: | Moody’s: Ba3 (expected)
|
|
|
| Class F notes
|
| Amount: | $8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 700 bps
|
| Rating: | Moody’s: B2 (expected)
|
|
|
| Equity
|
| Amount: | $37 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
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