Monroe Capital Prices Baby Bonds

Business development Company Monroe Capital (NASDAQ:MRCC) has priced a new issue of baby bonds with a coupon of 5.75%.

The issue is 2.4 million shares in size with another 360,000 shares for overallotments.

The shares will trade under ticker MRCCL within the next 30 days.

The maturity on these bonds is 10/31/2023 with an early redemption available to the company starting 10/31/2020

The company is a business development company (BDC) with a requirement of a 150% asset coverage ratio.

The pricing term sheet can be found here.


4 thoughts on “Monroe Capital Prices Baby Bonds”

    1. Hi Nomad–no grey market trading on the Monroe Capital baby bond and I don’t see it trading yet. This new priorty income preferred is news to me–haven’t seen any firm data at all on a new issue beyond what you have posted.

      1. Tim, thank you for your response. I plan on calling Priority Income Fund this week to follow up and will report back to this board what I have found. Wishing you find your treasure, Nomad

    2. Just an update on Priority Income Preferred “B”; I have left 4 sepereate messages for management, the law firm that filed the registration and an underwriter, but no one has called me back yet. The PRIF Preferred A is trading under the symbol PRIF.A. The A has a 200% asset coverage ration requirement (the new filings are only 150% asset coverage), they invest in CLO’s, have some affiliation with Prospect Capital (PSEC) for management, looks like a 2% external management fee is being paid. I will further update this again IF I ever get a call back. Wishing you profitable investing, Nomad

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