J.P. Morgan Arranges American Capital $450MM Refi
American Capital announced that it is launching a refinancing of its $450 million senior secured credit facility. The proposed refinancing is expected to include changes to the pricing terms of the existing credit facility to reflect more favorable current market pricing, a one year maturity date extension and a six month extension of the call protection period for lenders from the effective date. J.P. Morgan Securities is acting as lead arranger and sole bookrunner on the transaction.
The entry into the refinancing will be contingent upon, among other things, a successful syndication and the satisfaction of conditions precedent to the definitive documentation. The terms of the refinancing could be materially different than described above and no assurances can be given that the refinancing will be consummated.
Further details of the proposed refinancing will be presented to potential participants on a lender conference call to be held on February 12, 2014.
American Capital Ltd. is a publicly traded private equity firm and global asset manager.