Monroe Capital Corporation Amends and Extends Credit Facility, Reduces Pricing and Expands Commitments to $160 Million
December 15 2015 - 4:01PM
Monroe Capital Corporation (the “Company”) (NASDAQ:MRCC) today
announced an amendment and extension of its syndicated credit
facility led by ING Capital LLC, which includes a reduction in
pricing and an expansion in commitments.
The amended facility includes an increase in the size of the
current revolver commitments to $160 million from $135 million, and
an expansion of the accordion feature to $300 million from $200
million, to facilitate future expansion in order to accommodate
growth for the Company. The amended facility immediately reduces
pricing by 25 basis points to LIBOR plus 3.00% per annum, with a
further step-down to LIBOR plus 2.75% when net worth exceeds $225
million. The amended facility has a five-year maturity, extending
the maturity date from December 19, 2017 to December 14, 2020. The
amended facility also includes more flexible terms regarding
eligible collateral and advance rates against certain portfolio
assets.
ABOUT MONROE CAPITAL CORPORATION
Monroe Capital Corporation is a publicly-traded specialty
finance company that principally invests in senior, unitranche and
junior secured debt and, to a lesser extent, unsecured debt and
equity investments in middle-market companies. The Company’s
investment objective is to maximize the total return to its
stockholders in the form of current income and capital
appreciation. The Company’s investment activities are managed by
its investment adviser, Monroe Capital BDC Advisors, LLC, which is
an investment adviser registered under the Investment Advisers Act
of 1940, as amended, and an affiliate of Monroe Capital LLC. To
learn more about Monroe Capital Corporation, visit
www.monroebdc.com.
ABOUT MONROE CAPITAL LLC
Monroe Capital LLC is a provider of senior and junior debt and
equity co-investments to middle-market companies in the U.S. and
Canada. Investment types include unitranche financings, cash flow
and enterprise value based loans, acquisition facilities, mezzanine
debt, second lien or last-out loans and equity co-investments.
Monroe Capital LLC prides itself on its flexible investment
approach and its ability to close and fund transactions quickly.
Monroe Capital LLC is committed to being a value-added and
user-friendly partner to owners, senior management and private
equity sponsors. Monroe has been recognized by Global M&A
Network as the 2013, 2014 and 2015 Small Mid-Market Lender of
the Year, Private Debt Investor as the 2013 Unitranche Lender
of the Year and the 2014 Senior Lender of the Year and the U.S.
Small Business Administration as the 2015 Small Business Investment
Company of the Year. To learn more about Monroe Capital LLC, visit
www.monroecap.com.
ABOUT ING CAPITAL LLC
ING Capital LLC is a financial services firm offering a full
array of wholesale financial lending products and advisory services
to its corporate and institutional clients. ING Capital LLC is an
indirect U.S. subsidiary of ING Bank NV, part of ING Group
(NYSE:ING), a global financial institution of Dutch origin. The
Investment Industry Finance (IIF) group at ING Capital LLC offers a
broad range of structured finance solutions to its clients active
in the Investment Industry, including business development
companies.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking
statements. Any such statements, other than statements of
historical fact, are likely to be affected by other unknowable
future events and conditions, including elements of the future that
are or are not under the Company’s control, and that the Company
may or may not have considered; accordingly, such statements cannot
be guarantees or assurances of any aspect of future
performance. Actual developments and results are highly
likely to vary materially from these estimates and projections of
the future. Such statements speak only as of the time when
made, and the Company undertakes no obligation to update any such
statement now or in the future.
Investor Contact: Aaron D. Peck
Chief Investment Officer and Chief Financial Officer
Monroe Capital Corporation
(312) 523-2363
Email: apeck@monroecap.com
Media Contact: Douglas Allen
BackBay Communications
(646) 722-4270
Email: doug.allen@backbaycommunications.com
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