Monroe Capital Income Plus Corp: debt financing — Monroe Capital Income Plus issues $200M in notes at 9.42% and $179M in common stock

Monroe Capital Income Plus Corp

Issued $100M Series A Notes and $100M Series B Notes, each at 9.42% fixed rate, due 2028.
Covenants include minimum net worth of $660.9M and asset coverage ratio of 1.50:1.00.
Issued 17.49M shares of common stock for aggregate proceeds of $179.3M via private placement.
Notes are unsecured and rank pari passu with other unsecured unsubordinated indebtedness.
Proceeds not specified; likely for general corporate purposes and investment activities.

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 senior notes of $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed interest rate of 9.42% with institutional accredited investors at 9.42% per year maturing November 15, 2028 for Series A Notes; December 13, 2028 for Series B Notes.

Instrument: senior notes
Principal: $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed interest rate of 9.42%
Counterparty: institutional accredited investors
Rate: 9.42% per year
Maturity: November 15, 2028 for Series A Notes; December 13, 2028 for Series B Notes
Event: incurrence

Exact text from the filing

On November 15, 2023, Monroe Capital Income Plus Corporation (the "Company") entered into a Note Purchase Agreement (the "Note Purchase Agreement") governing the issuance of $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed interest rate of 9.42% per year and $100,000,000 in aggregate principal amount of Series B Notes, due December 13, 2028, with a fixed interest rate of 9.42% per year (collectively, the "2028 Notes"), to institutional accredited investors (as defined in Regulation D under the Securities Act of 1933, as amended (the "Securities Act") in a private placement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Monroe Capital Income Plus Corp entered into Note Purchase Agreement with institutional accredited investors valued at $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed in (effective 2023-11-15).

Action: entry
Agreement: notes offering
Counterparty: institutional accredited investors
Value: $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed in
Effective: 2023-11-15

Exact text from the filing

On November 15, 2023, Monroe Capital Income Plus Corporation (the “Company”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $100,000,000 in aggregate principal amount of Series A Notes, due November 15, 2028, with a fixed interest rate of 9.42% per year and $100,000,000 in aggregate principal amount of Series B Notes, due December 13, 2028, with a fixed interest rate of 9.42% per year (collectively, the “2028 Notes”), to institutional accredited investors

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Source: SEC EDGAR

accession 0001104659-23-119587

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