Monroe Capital Income Plus Corp: debt financing — Monroe Capital closes $251M asset-backed securitization with Class A, B, and sub notes

Monroe Capital Income Plus Corp

Issued $160.75M Class A notes (benchmark + 3.50%), $25.1M Class B notes (11.16%), and $65.3M sub notes (non-interest bearing) due 2033.
Proceeds used to purchase portfolio investments from the company and its warehouse subsidiary, repaying existing warehouse debt.
Monroe BDC Advisors serves as collateral manager and waived its fee; Subordinated Notes retained to satisfy risk retention requirements.
Securitization backed by a diversified pool of middle market loans, recurring revenue loans, and participation interests managed by Monroe BDC Advisors.
During reinvestment period through Oct 2025, principal collections may be used to buy new collateral under the collateral manager's direction.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Monroe Capital Income Plus Corp incurred debt of $65,319,000 of Subordinated Notes at do not bear interest maturing September 22, 2033.

Principal: $65,319,000 of Subordinated Notes
Rate: do not bear interest
Maturity: September 22, 2033
Event: incurrence

Exact text from the filing

the 2023 Issuer also issued $65,319,000 of Subordinated Notes, which do not bear interest (the “Subordinated 2023 Notes”

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Monroe Capital Income Plus Corp incurred senior notes of $25,100,000 of Class B Senior Secured Notes with Jefferies LLC at 11.16% maturing September 22, 2033.

Instrument: senior notes
Principal: $25,100,000 of Class B Senior Secured Notes
Counterparty: Jefferies LLC
Rate: 11.16%
Maturity: September 22, 2033
Event: incurrence

Exact text from the filing

in the 2023 Asset-Backed Securitization consist of $160,750,000 of Class A Senior Secured Notes, which bear an interest at the benchmark plus 3.50% (the “Class A Notes”) and $25,100,000 of Class B Senior Secured Notes, which bear interest at 11.16% (the “Class B Notes” and collectively with “Class A Notes”, the “Secured 2023 Notes”). The 2023 Issuer also issued

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Monroe Capital Income Plus Corp incurred senior notes of $160,750,000 of Class A Senior Secured Notes with Jefferies LLC at benchmark plus 3.50% maturing September 22, 2033.

Instrument: senior notes
Principal: $160,750,000 of Class A Senior Secured Notes
Counterparty: Jefferies LLC
Rate: benchmark plus 3.50%
Maturity: September 22, 2033
Event: incurrence

Exact text from the filing

certain of the notes to be issued pursuant to an indenture as part of the 2023 Asset-Backed Securitization. The notes offered in the 2023 Asset-Backed Securitization consist of $160,750,000 of Class A Senior Secured Notes, which bear an interest at the benchmark plus 3.50% (the “Class A Notes”) and $25,100,000 of Class B Senior Secured Notes, which bear interest at

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Source: SEC EDGAR

accession 0001104659-23-102793

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