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.
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Amount: | $412 million
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | BNP Paribas Securities Corp.
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Manager: | Monroe Capital Management, LLC
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Pricing date: | May 1
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|
Class A notes
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Amount: | $252 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 143 bps
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Ratings: | Moody’s: Aaa (expected)
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| Standard & Poor’s: AAA (expected)
|
|
Class B notes
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Amount: | $48 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 220 bps
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Rating: | Moody’s: Aa2 (expected)
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|
Class C notes
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Amount: | $21 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 310 bps
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Rating: | Moody’s: A2 (expected)
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|
Class D notes
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Amount: | $24 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 395 bps
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Rating: | Moody’s: Baa3 (expected)
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|
Class E notes
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Amount: | $22 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 600 bps
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Rating: | Moody’s: Ba3 (expected)
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Class F notes
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Amount: | $8 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 700 bps
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Rating: | Moody’s: B2 (expected)
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|
Equity
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Amount: | $37 million
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Securities: | Subordinated notes
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Rating: | Non-rated
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