American Capital Completes $500 Million Securitization
29 7월 2006 - 7:34AM
PR Newswire (US)
BETHESDA, Md., July 28 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that ACAS Business
Loan Trust 2006-1, a wholly owned, consolidated subsidiary of
American Capital, has issued $436 million of investment grade notes
backed by up to $500 million of senior and subordinated business
loans originated by American Capital. Wachovia Capital Markets, LLC
acted as the co-lead manager, structuring agent and initial
purchaser of the securities. Citigroup Global Markets Inc. was also
the co-lead manager and initial purchaser. Banc of America
Securities LLC, BMO Capital Markets Corp., Credit Suisse Securities
(USA) Inc., Dresdner Kleinwort Wasserstein Securities LLC and
WestLB AG, London Branch were co- managers and initial purchasers.
The blended pricing of the offered notes, excluding fees, is LIBOR
plus 39 basis points. The private placement note offering to
investors consists of the following offered notes: Expected Rating
Spread Over Weighted Class Of Note Amount S&P/Moody's/ LIBOR
Average ($Millions) Fitch (Basis Points) Life A 291 AAA/Aaa/AAA 23
4.9 years B 37 AA/Aa2/AA 36 5.4 years C 72.5 A/A2/A 65 5.6 years D
35.5 BBB/Baa2/BBB 125 5.8 years ABOUT AMERICAN CAPITAL American
Capital is a publicly traded buyout and mezzanine fund with capital
resources of $8.9 billion. American Capital invests in and sponsors
management and employee buyouts, invests in private equity buyouts,
provides capital directly to early stage and mature private and
small public companies and through its asset management business is
a manager of debt and equity investments in private companies.
American Capital provides senior debt, mezzanine debt and equity to
fund growth, acquisitions, recapitalizations and securitizations.
American Capital invests up to $350 million per company. As of June
30, 2006, American Capital shareholders have enjoyed a total return
of 398% since the Company's IPO -- an annualized return of 20%,
assuming reinvestment of dividends. American Capital has paid a
total of approximately $1.2 billion in dividends and paid $20.73
dividends per share since its August 1997 IPO at $15 per share.
Companies interested in learning more about American Capital's
flexible financing should contact Mark Opel, Senior Vice President,
Business Development, at (800) 248-9340, or visit
http://www.americancapital.com/. Performance data quoted above
represents past performance of American Capital. Past performance
does not guarantee future results and the investment return and
principal value of an investment in American Capital will likely
fluctuate. Consequently, an investor's shares, when sold, may be
worth more or less than their original cost. Additionally, American
Capital's current performance may be lower or higher than the
performance data quoted above. This press release contains
forward-looking statements. The statements regarding expected
results of American Capital Strategies are subject to various
factors and uncertainties, including the uncertainties associated
with the timing of transaction closings, changes in interest rates,
availability of transactions, changes in regional, national or
international economic conditions, or changes in the conditions of
the industries in which American Capital has made investments.
DATASOURCE: American Capital Strategies Ltd. CONTACT: Tom McHale,
Senior Vice President, Finance of American Capital Strategies Ltd.,
+1-301-951-6122 Web site: http://www.americancapital.com/
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