NCC prices $611.9 million CLO; Monroe Capital wraps $455.75 million middle-market deal

By Cristal Cody

Tupelo, Miss., Nov. 20 – Both broadly syndicated and middle-market CLO managers are closing deals ahead of the Thanksgiving Day holiday.

NCC CLO Manager LLC priced $611.9 million of notes in a new broadly syndicated CLO deal that closed on Tuesday.

In the middle-market space, Monroe Capital LLC announced on Tuesday that it closed on a new $455.75 million transaction. The deal is the middle-market lender’s third CLO offering completed in the past 13 months.

“We continue to see very strong interest in Monroe’s CLO platform,” Jeremy VanDerMeid, managing director of Monroe, said in the release.

In its deal, NCC CLO Manager priced $611.9 million of notes due Oct. 15, 2031 in the broadly syndicated deal, according to a market source.

Nassau 2018-II Ltd./Nassau 2018-II LLC sold $384 million of class A senior secured floating-rate notes at Libor plus 128 basis points in the AAA-rated tranche.

J.P. Morgan Securities LLC arranged the offering.

Meanwhile, Monroe Capital priced $455.75 million of notes due Nov. 22, 2030 in a new middle-market CLO transaction.

Monroe Capital MML CLO VII, Ltd./Monroe Capital MML CLO VII, LLC sold $4.5 million of class X senior floating-rate notes, $222 million of class A-1 senior floating-rate notes and $30 million of A-2 senior fixed-rate notes in the senior tranches.

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