BETHESDA, Md., July 19, 2012 /PRNewswire/ -- American
Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or the "Company")
announced today that it plans to refinance virtually all of its
existing recourse debt with two new senior secured credit
facilities (the "Facilities"). Proceeds of the Facilities
will also be used for working capital and general corporate
purposes. J.P. Morgan Securities LLC will be joint lead
arranger and joint bookrunner on the transaction.
The Facilities are expected to consist of a revolving credit
facility and a $600 million four-year
institutional term loan facility. Details of the planned
Facilities will be provided to potential participants at a lender
meeting to be held on July 24, 2012,
in New York, NY.
The entry into the Facilities will be contingent upon, among
other things, a successful syndication and the satisfaction of
conditions precedent to the definitive documentation. The
terms of the Facilities could be materially different than
described above and no assurances can be given that the Facilities
will be consummated.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm
and global asset manager. American Capital, both directly and
through its asset management business, originates, underwrites and
manages investments in middle market private equity, leveraged
finance, real estate and structured products. American
Capital has $101 billion in assets
under management and seven offices in the U.S. and Europe. American Capital and its
affiliate, European Capital, will consider investment opportunities
from $10 million to $500
million. For further information, please refer to
www.AmericanCapital.com.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking information and
statements, including but not limited to the potential refinancing
of the Company's existing secured debt.
Forward-looking statements give our current expectations and
projections relating to the Company's financial condition, results
of operations, plans, objectives, future performance and business.
You can identify forward-looking statements by the fact that they
do not relate strictly to historical or current facts. These
statements may include words such as "anticipate," "estimate,"
"expect," "project," "plan," "intend," "believe," "confident,"
"may," "should," "can have," "likely," "future" and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events. Forward looking statements are not guarantees of
performance or results, and involve known and unknown risks,
uncertainties (some of which are beyond the Company's control),
assumptions and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements, including in particular the Company's
ability to complete, on terms satisfactory to the Company, the
negotiations relating to the proposed new credit facilities.
Should one or more of these risks or uncertainties
materialize, the Company's actual results may vary in material
respects from those projected in any forward-looking statements. A
detailed discussion of these and other factors that may affect
future results is contained in our filings with the U.S. Securities
and Exchange Commission. Any forward-looking statement made
by the Company in this press release speaks only as of the date on
which it is made. The Company undertakes no obligation to update
any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by law.
Contact:
Investor Relations - (301) 951-5917
SOURCE American Capital, Ltd.