BETHESDA, Md., Feb. 26, 2014 /PRNewswire/ -- American Capital,
Ltd. (Nasdaq: ACAS) ("American Capital" or the "Company") announced
today that it has amended its $450
million senior secured term loan credit facility. J.P.
Morgan Securities LLC was lead arranger and sole bookrunner on the
transaction.
The amendment modifies the credit agreement to:
- Reduce the interest rate from LIBOR plus 3.00% to LIBOR plus
2.75%;
- Reduce the LIBOR floor from 1.00% to 0.75%; and
- Extend the maturity of the facility by one year to August 2017.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq:
ACAS) 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, energy & infrastructure and structured
products. American Capital manages $19
billion of assets, including assets on its balance sheet and
fee earning assets under management by affiliated managers, with
$93 billion of total assets under
management (including levered assets). Through an affiliate,
American Capital manages publicly traded American Capital Agency
Corp. (Nasdaq: AGNC) with approximately $9
billion of net book value, American Capital Mortgage
Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital
Senior Floating, Ltd. (Nasdaq: ACSF). From its eight offices
in the U.S. and Europe, American
Capital and its affiliate, European Capital, will consider
investment opportunities from $10 million to
$750 million. For further information, please refer to
www.AmericanCapital.com.
FORWARD LOOKING STATEMENTS
This press release
contains forward-looking information and statements.
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. 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.