American Capital Increases Secured Facility to $1.25B
American Capital closed an increase in commitments on its $750 million senior secured revolving credit facility, provided by Bank of America, by $500 million to $1.25 billion. In addition to the increase, the maturity date of the facility was extended by two years to March 2017.
The facility will continue to bear interest at a rate of LIBOR plus 1.60%.
“We are extremely pleased to amend our credit facility with a significant increase from Bank of America,” said Michael Sarner, SVP, Treasury. “Their confidence in American Capital and backing through additional commitments will support our strategic growth plans.”