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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