American Capital talks $350 million five-year notes to yield 6¼%-6½%

By Paul A. Harris

Portland, Ore., Sept. 16 - American Capital, Ltd. talked its $350 million offering of five-year senior notes (B3/B+/BB-) to yield 6¼% to 6½%, a market source said on Monday.

Books close at 10 a.m. ET on Tuesday, and the deal is set to price midday on Tuesday.

J.P. Morgan Securities LLC, BofA Merrill Lynch, BMO Securities, Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Investment Bank are the joint bookrunners for the Rule 144A and Regulation S for life notes.

The notes come with two years of call protection.

The Bethesda, Md.-based private equity firm and asset manager plans to use the proceeds for general corporate purposes.

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