Chicago, Nov. 3 – Monroe Capital CLO Manager II LLC closed on a $502.5 million collateralized loan obligation issued by Monroe Capital MML CLO XIV, LLC, according to a presale report and a company release.
The notes will mature on Oct. 24, 2034.
The CLO consists of $55 million of class A senior floating-rate notes at SOFR plus 245 basis points, $187 million of class A-1 floating-rate loans at SOFR plus 245 bps, $40 million of class A-2 loans floating-rate notes at SOFR plus 245 bps, $15 million of class B-1 floating-rate notes at SOFR plus 350 bps, $25 million of class B floating-rate loans at SOFR plus 350 bps, $10 million of class B-2 7.34% fixed-rate notes, $41 million of class C deferrable mezzanine floating-rate notes at SOFR plus 485 bps, $31 million of class D deferrable mezzanine floating-rate notes at SOFR plus 650 bps, $32.5 million of class E deferrable mezzanine floating-rate notes at SOFR plus 1,002 bps, $64 million of subordinated notes and a second class of $2 million of subordinated notes.
Monroe Capital CLO Manager II LLC will manage the collateral through the end of the reinvestment period in October 2026.
Collateral for the notes consists of middle-market senior secured loans.
The notes can be called starting October 2024.
BNP Paribas was the placement agent.
The middle-market lender and private credit asset management firm is based in Chicago.
| Issuer: | Monroe Capital MML CLO XIV, LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $502.5 million
|
| Maturity: | Oct. 24, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | Monroe Capital CLO Manager II LLC
|
| Call feature: | October 2024
|
| Settlement date: | Nov. 2
|
|
|
| Class A notes
|
| Amount: | $55 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 loans
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| Amount: | $187 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
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| Amount: | $40 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
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| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B loans
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| Amount: | $25 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 7.34%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $41 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 485 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $31 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 650 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | $32.5 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 1,002 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
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| Amount: | $64 million
|
| Securities: | Subordinated notes
|
|
|
| Subordinated notes
|
| Amount: | $2 million
|
| Securities: | Subordinated notes
|
|
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