American Capital Completes $500 Million Securitization
09 8월 2007 - 7:45AM
PR Newswire (US)
BETHESDA, Md., Aug. 8 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) ("American Capital") announced today
that ACAS Business Loan Trust 2007-2, a wholly owned subsidiary of
American Capital, has issued $338 million of investment grade class
A and B notes backed by $500 million of senior and subordinated
business loans originated and acquired by American Capital.
Citigroup Global Markets Inc. and JP Morgan Securities Inc. acted
as co-lead managers and joint bookrunners of the securities. Banc
of America Securities LLC, Credit Suisse Securities (USA) Inc., HVB
Capital Markets, Inc., HSBC Bank USA, National Association and
Wachovia Capital Markets LLC were co-managers. The blended pricing
of the offered notes, excluding fees, is LIBOR plus 47 basis
points. American Capital retained all the class C through F notes
in the securitization. "American Capital's continued access to low
cost capital through various means of fundraising highlights our
asset quality and the strength of business model. Over the past 3
months we have raised $2.5 billion of new debt and equity capital,"
said Tom McHale, Senior Vice President, Finance. "Our diverse
capital resources provide competitive advantages in the current
credit environment." "Our tenth term securitization comes at a time
when the market is placing a premium on liquidity and wary of
credit quality in general. The execution of this well-priced term
securitization is a result of the strength of our assets and the
performance of our previous nine balance sheet securitizations,
five of which have been completely repaid," said John Hooker, Vice
President, Debt Capital Markets. The private placement note
offering to investors consists of the following offered notes:
Class Of Amount Rating Spread Over LIBOR Expected Note Sold Sold
S&P/Moody's/Fitch (Basis Points) Weighted ($Millions) Average
Life A $300.5 AAA/Aaa/AAA 40 2.99 years B $37.5 AA/Aa2/AA 100 3.75
years Total & Weighted Average $338 47 3.07 years ABOUT
AMERICAN CAPITAL American Capital is the only alternative asset
management company that is a member of the S&P 500. With $16
billion in assets under management(1), American Capital is the
largest U.S. publicly traded private equity fund and one of the
largest publicly traded alternative asset managers. American
Capital, both directly and through its global asset management
business, is an investor in management and employee buyouts,
private equity buyouts, and early stage and mature private and
public companies. American Capital provides senior debt, mezzanine
debt and equity to fund growth, acquisitions, recapitalizations and
securitizations. American Capital and its affiliates invest from $5
million to $800 million per company in North America and euro 5
million to euro 500 million per company in Europe. As of July 31,
2007, American Capital shareholders have enjoyed a total return of
505% since the Company's IPO-an annualized return of 20%, assuming
reinvestment of dividends. American Capital has paid a total of
$1.7 billion in dividends and paid or declared $25.16 dividends per
share since going public in August 1997 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/ or http://www.europeancapital.com/.
(1) Includes American Capital's investment in externally managed
funds. 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, or John Hooker, Vice President, Debt Capital
Markets, both of American Capital Strategies Ltd., +1-301-951-6122
Web site: http://www.americancapital.com/
Copyright
American Capital Strategies (NASDAQ:ACAS)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
American Capital Strategies (NASDAQ:ACAS)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024