BofA Provides $750MM American Capital Revolver
American Capital announced 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 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.