CHICAGO, September 10 /CNW/ - Monroe Capital LLC announced the funding of
a $21.5 million term loan to SMTC Corporation (NASDAQ: SMTX; TSE: SMX). Monroe
Capital acted as Sole Arranger and Agent of a term loan credit facility in
conjunction with a $40 million senior credit facility from Wachovia Capital
Finance. The credit facility is to be used to assist SMTC in refinancing its
existing debt and for ongoing working capital purposes.
SMTC Corporation, founded in 1985, is a provider of end-to-end
electronics manufacturing services (EMS) including PCBA production, systems
integration and comprehensive testing services, enclosure fabrication, as well
as product design, sustaining engineering and supply chain management
services. SMTC facilities span a broad footprint in the United States, Canada
and Mexico in addition to a manufacturing partnership in China.
Theodore L. Koenig, President and Chief Executive Officer of Monroe
Capital, said, "We very much appreciate the ability to assist a quality
company with quality management like SMTC in their continued growth. We look
forward to being a strong financing partner with this company for years to
John Caldwell, President and Chief Executive Officer of SMTC, said, "We
are delighted to enter into a long term relationship with Monroe Capital to
provide our funding requirements as we continue to grow our business. Monroe
Capital was constructive, highly responsive and flexible in addressing our
needs and timelines. We look forward to working with Monroe going forward."
Monroe Capital is a specialty finance company providing senior secured
and junior secured debt to middle-market companies. Monroe Capital specializes
in originating, structuring and providing customized one-stop financings to
U.S. and Canadian borrowers. Monroe is committed to being a value-added and
user-friendly partner to owners, senior management and transaction sponsors.
Investment types include senior and junior secured debt as well as bridge
loans, flexible acquisition facilities, mezzanine or last-out second loans
that stretch a company's debt capacity, acquisitions of distressed debt, and
equity co-investments. Monroe Capital prides itself on its flexible investment
approach and its ability to close and fund transactions quickly. To learn more
about Monroe Capital, visit www.monroecap.com.
For further information:
For further information: Monroe Capital LLC Theodore L. Koenig President
and CEO Phone: (312) 258-8300 Fax: (312) 258-8350 www.monroecap.com