Monroe CapitalNASDAQ: MRCC

CHICAGO--(BUSINESS WIRE)--Monroe Capital LLC (“Monroe”) announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Summit Off Duty Services (“Summit”) by Security Services Holdings LLC ("Protos Security"), an existing portfolio company of Southfield Capital. Protos Security is a tech-enabled vendor managed security services provider in North America. Headquartered in Irving, TX, Summit is an off-duty police officer.

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to four classes of debt issued by Monroe Capital ABS Funding II, LP ("MCAF 2024-1"), a securitization backed by a portfolio of recurring revenue and middle market corporate loans. This transaction is a reset of the Monroe Capital ABS Funding II, LP, which originally closed in February 2023. MCAF 2024-1 is a $528.4 million securitization managed by Monroe Capital Management Advisors, LLC (“Monroe” or the “Collateral Manager”), an affili.

CHICAGO--(BUSINESS WIRE)--Monroe Capital LLC (“Monroe”) announced it acted as lead arranger and administrative agent on the funding of a senior credit facility to support the growth of Signal 88, LLC (“Signal Security”). Founded in 2003 and based in Omaha, NE, Signal Security is an operator of security and patrol services including mobile patrol, dedicated security guard services, concierge and camera monitoring and commercial and industrial solutions. Signal Security serves local communities b.

CHICAGO, June 03, 2024 (GLOBE NEWSWIRE) -- Monroe Capital Corporation (the “Company”) (NASDAQ: MRCC) announced today that its Board of Directors has declared a distribution of $0.25 per share for the second quarter of 2024, payable on June 28, 2024 to stockholders of record as of June 17, 2024. In October 2012, the Company adopted a dividend reinvestment plan that provides for reinvestment of distributions on behalf of its stockholders, unless a stockholder elects to receive cash prior to the record date. When the Company declares a cash distribution, stockholders who have not opted out of the dividend reinvestment plan prior to the record date will have their distribution automatically reinvested in additional shares of the Company's capital stock. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.

Monroe Capital LLC announced today that it helped arrange funding for the acquisition of Cloudbreak Health by GTCR. Cloudbreak is a Columbus-based company that provides video language interpretation services to assist patients with limited English proficiency and the deaf and hard-of-hearing community in healthcare settings.

Monroe Capital Corporation (NASDAQ: MRCC) will release its first quarter 2024 financial results on May 8, 2024, after the markets close.

Monroe Capital's stock price has declined in the past three years, but the company remains fundamentally sound with strong end markets and a fully covered dividend. The company is well-positioned in the lower middle private credit market, which has seen growth due to tightening lending policies and increased demand from lower- and middle-market companies. Monroe Capital has improved its debt and liquidity position, has a strong portfolio credit quality, and is actively seeking attractive investment opportunities.

Monroe Capital (MRCC) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.25 per share a year ago.

Monroe Capital is a small BDC and relatively unpopular one with a market cap of ~$150 million providing financing for companies in the US and Canada. Portfolio-wise the structure is quite conventional with ~80% located in first lien and a nice distribution among various sectors without any major focus into speculative areas. Yet, the fact that MRCC has one of the most indebted balance sheets and fully exhausted dividend coverage renders this investment overly speculative, even considering 14.4% yield.