MRCC - Monroe Capital to use notes offering proceeds to pay off higher-rate notes
Monroe Capital (MRCC) prices a public offering of $130M of 4.75% notes due 2026.MRCC plans to use the proceeds to redeem all of its outstanding 5.75% notes due 2023 and to repay a portion of the amount outstanding under its credit facility.However, it may re-borrow under its credit facility and use such borrowings to invest in lower middle-market companies in accordance with its investment objective and strategies and for working capital and general corporate purposes. As of Jan. 12, 2021, MRCC had $114.9M in outstanding indebtedness under its credit facility.
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Monroe Capital to use notes offering proceeds to pay off higher-rate notes