Chicago-based Monroe Capital closed a $457 million term debt securitization known as Monroe Capital MML CLO XIII.
The eighth new issue CLO from Monroe since 2018, the underlying portfolio is made up of middle market senior secured loans. The securities sold rated from AAA through BB as well as subordinated notes. Deutsche Bank was the lead manager, structuring agent and bookrunner, with Raymond James serving as co-manager.
The transaction was structured to meet and comply with both the European risk retention guidelines as
“This was a nice execution in a challenging market, and we were very pleased to work with our partners Deutsche Bank and Raymond James,” said Jeremy VanDerMeid, portfolio manager at Monroe Capital. “Our middle market CLO platform continues to offer investors around the world a unique avenue to invest in U.S. middle market loans.”
The firm has 13 middle market CLO vehicles overall and the platform boasts over $4.1 billion in assets. Officials say that the blend of proprietary directly originated deal flow with the traditional middle market syndicated transactions continues to attract CLO investors.
Overall, Monroe has $12.7 billion in AUM with a private credit platform of more than 30 vehicles across direct lending and opportunistic credit funds, a publicly traded and private BDCs, separately managed accounts and CLOs.