Daily News: July 20, 2012

American Capital Announces Planned Refinancing of Secured Debt

American Capital, Ltd. announced that it plans to refinance virtually all of its existing recourse debt with two new senior secured credit facilities. Proceeds of the facilities will also be used for working capital and general corporate purposes. J.P. Morgan Securities LLC will be joint lead arranger and joint bookrunner on the transaction.

The facilities are expected to consist of a revolving credit facility and a $600 million four-year institutional term loan facility.

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 and structured products.