BETHESDA, Md., June 30, 2014 /PRNewswire/ -- American
Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or the "Company")
announced today the closing of a $750
million senior secured revolving credit facility, provided
by Bank of America, N.A. The facility, which matures in
June 2016, bears interest at a rate
of LIBOR plus 1.60%.
"This new revolving credit facility provides American Capital
with greater flexibility and financial capacity to invest in senior
secured floating rate loans, which, if appropriately levered as
allowed under the facility, can enhance our net operating income
and more effectively use our balance sheet," said Malon Wilkus, Chairman and CEO of American
Capital.
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
$84 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) with approximately
$151 million in net book value.
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.