American Capital announced today the closing of a $750 million senior secured revolving credit facility, provided by Bank of America. 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.
American Capital (NASDAQ: ACAS) is a publicly traded private equity firm and asset manager that originates, underwrites and manages investments of $10 million to $750 million in lower and middle market private equity, leveraged finance, real estate and structured products. From its eight offices in the US and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. Founded in 1986, American Capital has $84 billion in total assets under management and is headquartered in Bethesda (www.AmericanCapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 7-1-14