UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) November 13, 2012 (November 12, 2012)
Monroe Capital Corporation
(Exact name of registrant as specified in its charter)
| Maryland | 814-00866 | 27-4895840 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 311 South Wacker Drive, Suite 6400, Chicago, IL |
60606 | |||
| (Address of principal executive offices) | (Zip Code) | |||
(312) 258-8300
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation Under an off-Balance Sheet Arrangement of a Registrant.
Effective November 9, 2012, Monroe Capital Corporation (the “Company”) increased the aggregate commitments under its credit facility from $25 million to $55 million, pursuant to an accordion feature under the Company’s Senior Secured Revolving Loan Agreement, dated October 23, 2012, by and among the Company, the lenders named therein, and ING Capital LLC, as administrative agent (the “Credit Agreement”). The Credit Agreement continues to operate pursuant to its existing terms and conditions. In connection with the increased commitments, four new lenders joined the facility.
ITEM 7.01. Regulation FD Disclosure.
On November 12, 2012, Monroe Capital Corporation issued a press release, filed herewith as Exhibit 99.1, announcing that loan commitments on its syndicated credit facility have increased by $30 million to $55 million and that new lenders have joined the facility.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
ITEM 9.01. Financial Statements and Exhibits
| 99.1 | Press Release, dated November 12, 2012. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MONROE CAPITAL CORPORATION | ||
| By: | /s/ Aaron D. Peck | |
| Name: Aaron D. Peck | ||
| Title: Chief Financial Officer | ||
Dated: November 13, 2012
Exhibit 99.1
Monroe Capital Corporation Expands Its Syndicated Credit Facility to $55 Million
CHICAGO, Ill., November 12, 2012 – Monroe Capital Corporation (the “Company”) (NASDAQ: MRCC) today announced that loan commitments on its syndicated credit facility led by ING Capital LLC have increased by $30 million to $55 million, and that four new lenders have joined the facility. According to Theodore L. Koenig, President and Chief Executive Officer of the Company, “We are very pleased that we could upsize our credit facility so quickly after our initial public offering. We look forward to continuing to create value for our shareholders.”
ABOUT MONROE CAPITAL CORPORATION
The Company is a newly-organized, externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development company under the Investment Company Act of 1940, as amended, and as a regulated investment company (RIC) for tax purposes. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through investments in senior, unitranche and junior secured debt and, to a lesser extent, unsecured debt and equity investments. The Company’s investment activities are managed by its investment adviser, Monroe Capital BDC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended, and an affiliate of Monroe Capital LLC. To learn more about Monroe Capital Corporation, visit www.monroebdc.com.
ABOUT MONROE CAPITAL LLC
Monroe Capital LLC is a private investment firm providing senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital LLC prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe Capital LLC is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. To learn more about Monroe Capital LLC, visit www.monroecap.com.
ABOUT ING CAPITAL LLC
ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group. ING Bank NV has 67,000 employees serving its clients through its extensive global network in the world’s major financial services markets. ING Capital has built a leading position in corporate lending. The Investment Industry Finance (IIF) group at ING Capital offers a broad range of structured finance solutions to its clients active in the Investment Industry, including BDCs.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company’s control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.
SOURCE: Monroe Capital Corporation
| Investor Contact: |
Aaron D. Peck | |
| Chief Investment Officer and Chief Financial Officer | ||
| Monroe Capital Corporation | ||
| (312) 523-2363 | ||
| Email: apeck@monroecap.com | ||
| Media Contact: |
Kelly Holman | |
| BackBay Communications | ||
| (212) 209-3844 | ||
| Email: kelly.holman@backbaycommunications.com | ||
| ING Deal Contact: |
Patrick Frisch | |
| Managing Director | ||
| (646) 424-6912 | ||
| Email: patrick.frisch@americas.ing.com | ||