NEWS
FOR IMMEDIATE RELEASE:
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| EUROPEAN CAPITAL COMMITTED DEBT FACILITIES* | |
| Total Commitment | |
| Multi-Currency Secured RLOC | €580,000,000 |
| Secured Term Notes | €267,000,000 |
| Multi-Currency Unsecured RLOC | €150,000,000 |
| Unsecured RLOC | $400,000,000 |
| Unsecured Private Placements | |
| March 2007 | $37,500,000 |
| January 2007 | $37,500,000 |
| December 2006 | €52,000,000 |
| TOTAL COMMITTED DEBT FACILITIES** | €1,353,500,000 |
*As of 27 June 2008.
**US Dollar facilities converted to Euros at 30 May 2008 exchange rate.
"We are pleased with the renewal of our multi-currency secured credit facility backed by a premier group of financial institutions," said John Erickson, Director, European Capital Financial Services (Guernsey) Limited. "Despite the current liquidity crisis, our lenders have confidence in European Capital's abilities, the business model and the outstanding quality of the team and the portfolio."
"Our investment teams have been making outstanding investments in some of Europe's best middle market companies for three years," said John Hooker, Vice President, Debt Capital Markets, American Capital. "The quality of our investments has been a significant factor in allowing us to issue a term debt securitisation and renew our credit facility during the current liquidity crisis."
European Capital manages a portfolio of investments totaling approximately €2 billion in over 70 companies. European Capital has invested over €1.4 billion ($2.2 billion) in the last twelve months, €318 million ($494 million) year to date and €149 million ($231 million) quarter to date. European Capital has assisted in the refinance or syndication of €84 million ($130 million) of senior debt for its portfolio companies in the last twelve months and €607 million ($942 million) inception to date. For more information about European Capital's portfolio, click here.
ABOUT EUROPEAN CAPITAL
European Capital is a publicly traded investment company for pan-European equity, mezzanine and senior debt investments with capital resources of approximately €2.4 billion ($3.8 billion). It is managed by European Capital Financial Services (Guernsey) Limited ("ECFSG" or "the Investment Manager"), a wholly-owned affiliate of American Capital Strategies, Ltd ("American Capital").
European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and public companies headquartered predominantly in Europe. European Capital generally invests between €5 million and €500 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalisations.
The investment objective of European Capital is to provide investors with dividend income and the potential for share value appreciation by investing in debt and equity investments in private and public companies headquartered primarily in Europe. European Capital seeks to achieve this through pursuing the following types of investments:
European Capital One Stop Buyouts™
Through our One Stop Buyouts™, European Capital provides equity, mezzanine debt and senior debt as the lead investor in the buyout of private and public companies.
Mezzanine Direct with Sponsors
European Capital provides debt and equity financing for buyouts sponsored by private equity firms where European Capital is either the sole or lead mezzanine debt investor.
Syndicated Mezzanine and Senior Debt
European Capital provides mezzanine and senior financing for buyouts sponsored by private equity firms where European Capital is neither the sole nor lead mezzanine or senior debt investor.
Direct Investments
European Capital provides debt and equity financing directly to private and public companies, which is used for growth, acquisitions or recapitalisations, and investing in structured finance vehicles.
Companies interested in learning more about European Capital's flexible financing should contact Nathalie Faure Beaulieu at + 44 (0)20 7539 7000 in London, Jean Eichenlaub at + 33 (0)1 40 68 06 66 in Paris, Robert von Finckenstein at +49 (0) 69 71 71 297-0 in Frankfurt, or Luis Felipe Castellanos at +(34) 91 423 27 60 in Madrid, or visit the website at www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
With $21 billion in capital resources under management1, American Capital Strategies, Ltd. (Nasdaq: ACAS) is the only private equity fund and alternative asset management company in the S&P 500. American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalisations and securitisations. American Capital and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €500 million per company in Europe.
1Capital resources under management is an estimate of internally and externally managed assets and available capital resources as of May 31, 2008 and does not include any fair value adjustments subsequent to March 31, 2008.
This press release contains forward-looking statements. The statements regarding expected results of European Capital and/or American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which European Capital and/or American Capital has made investments.
EUROPEAN CAPITAL FINANCIAL SERVICES, LTD. |
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| London 25 Bedford Street London WC2E 9ES United Kingdom +44 (0)207 539 7000 +44 (0)207 539 7041 fax |
Frankfurt Branch Taunusanlage 18 60325 Frankfurt am Main Germany ++ 49 69 7171 297-0 ++ 49 69 7171 297-30 fax |
Madrid Branch Velázquez, 47, 7° 28001 Madrid Spain +34 (91) 423 27 60 +34 (91) 423 27 70 fax |
| Paris Branch 112 avenue Kléber 75784 Paris cedex 16 France +33 (0)1 40 68 06 66 +33 (0)1 40 68 06 88 FAX |
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