American Capital, Ltd. is launching a refinancing of its $450 million senior secured credit facility.  The proposed refinancing is expected to include changes to the pricing terms of the existing credit facility to reflect more favorable current market pricing, a one year maturity date extension and a six month extension of the call protection period for lenders from the effective date.  Further details of the proposed refinancing will be presented to potential participants on a lender conference call to be held on February 12, 2014.

The entry into the refinancing will be contingent upon, among other things, a successful syndication and the satisfaction of conditions precedent to the definitive documentation. The terms of the refinancing could be materially different than described above and no assurances can be given that the refinancing will be consummated.

J.P. Morgan Securities LLC will be lead arranger and sole bookrunner on the transaction.

American Capital, Ltd. is a publicly traded private equity firm and global asset manager.  American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products.  American Capital manages $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $93 billion of total assets under management (including levered assets).