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American Capital to launch $750 million credit facility on Tuesday
By Sara Rosenberg
New York, July 19 - American Capital Ltd. will be holding a bank meeting at 1:30 p.m. ET on Tuesday to launch a proposed $750 million credit facility that will include a $600 million four-year term loan B and a $150 million revolver, according to sources.
J.P. Morgan Securities LLC is the joint lead arranger and joint bookrunner on the deal.
Amortization on the term loan B is 25% per year.
Proceeds will be used to refinance basically all of the company's existing recourse debt and for working capital and general corporate purposes.
American Capital is a Bethesda, Md.-based private equity firm and global asset manager.
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