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Allied Capital amends loan, permitting the payment of cash dividend
By Sara Rosenberg
New York, March 8 - Allied Capital Corp. amended its credit facility, allowing for the declaration of a one-time special cash dividend upon approval of the merger with Ares Capital Corp., according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
The dividend may not exceed the lesser of $0.20 per share or $40 million.
In addition, the amendment made modifications to certain of the mandatory repayment requirements under the senior secured term loan.
The amendment was completed on March 2.
Allied Capital is a Washington D.C.-based business development company.
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