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ACAS > SEC Filings for ACAS > Form 8-K on 26-Feb-2014All Recent SEC Filings

Show all filings for AMERICAN CAPITAL, LTD



Entry into a Material Definitive Agreement, Financial Statements and Exhibi

Item 1.01 Entry into a Material Definitive Agreement

On February 26, 2014, American Capital, Ltd. ("American Capital" or the "Company") entered into an amendment (the "Amendment") to its Senior Secured Term Loan Credit Agreement, dated as of August 22, 2012, among the Company, as Borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. JP Morgan Securities, LLC was the lead arranger and sole bookrunner on the transaction.

The Amendment reduced the pricing of the Company's senior secured term loan credit facility (which had $450 million in loans outstanding as of the closing date) (the "Term Loan Facility") from LIBOR plus 3.00%, with a LIBOR floor of 1.00%, to LIBOR plus 2.75%, with a LIBOR floor of 0.75%. The Amendment also extended the maturity of the Term Loan Facility by one year to August 2017.

The following lenders under the amended Term Loan Facility, or affiliates thereof, have also performed investment banking and advisory services for the Company from time to time for which they have received customary fees and expenses: JPMorgan Chase Bank, N.A. and Bank of America, N.A.

The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2014.

The Company issued a press release announcing the Amendment on February 26, 2014. The text of the press release is included as Exhibit 99.1 to this Form 8-K. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and herein shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
Exhibit No.    Description
       99.1    Press Release, dated February 26, 2014

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