ECAS European Cap

    RNS Number : 8930X
  European Capital Limited
  30 June 2008
   

    First Floor, Dorey Court
Admiral Park 
St. Peter Port, Guernsey GY1 6HJ 





    FOR IMMEDIATE RELEASE
    30 June 2008

    Contact:
    John Erickson, Director, European Capital Financial Services (Guernsey) Limited +1 (301) 951-6122
    Tom McHale, Director, European Capital Financial Services +1 (301) 951-6122
    Juan Carlos Morales Cortes, Finance Director, European Capital Financial Services +44 (0)207 539 7000  
    John Hooker, Vice President, Debt Capital Markets, American Capital +1 (301) 951-6122
    Justin Cressall, Vice President, Equity Capital Markets, American Capital +1 (301) 951-6122

    EUROPEAN CAPITAL RENEWS MULTI-CURRENCY SECURED CREDIT FACILITY 

    St. Peter Port, Guernsey - 30 June 2008 - European Capital Limited (LSE: ECAS) and its subsidiaries, European Capital S.A. SICAR and
ECAS S.r.l (collectively, "European Capital") announced today the renewal of European Capital's multi-currency revolving credit facility,
denominated in Euros, Pounds Sterling and U.S. Dollars. The renewal of the facility resulted in a commitment of EUR580 million ($905
million).   Wachovia Securities International Ltd. is the lead arranger and sole bookrunner of the facility.  The lenders in European
Capital's revolving credit facility are Wachovia Bank, N.A., London Branch, Bank of Montreal Ireland p.l.c., Eureka Securitisation plc, an
affiliate of Citibank, N.A., London Branch and Alpine Securitization Corp., an affiliate of Credit Suisse.  The facility is secured by
certain debt investments made by European Capital, has a variable advance rate and a spread of 250 bps.

    European Capital currently has the following committed debt facilities: 

 EUROPEAN CAPITAL COMMITTED DEBT FACILITIES*
                                                Total Commitment
 Multicurrency Secured RLOC                      EUR 580,000,000
 Secured Term Notes                               EUR267,000,000
 Multicurrency                                    EUR150,000,000
 Unsecured RLOC
 Unsecured RLOC                                     $400,000,000
 Unsecured Private Placements                                   
   March 2007                                       $37,500,000 
   January 2007                                     $37,500,000 
   December 2006                                  EUR 52,000,000
 TOTAL COMMITTED DEBT FACILITIES**              EUR1,353,500,000

      *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 securitization and renew our credit facility during the current liquidity crisis."

    European Capital manages a portfolio of investments totaling approximately EUR2 billion in over 70 companies.  European Capital has
invested over EUR1.4 billion ($2.2 billion) in the last twelve months, EUR318 million ($494 million) year to date and EUR149 million ($231
million) quarter to date. European Capital has assisted in the refinance or syndication of EUR84 million ($130 million) of senior debt for
its portfolio companies in the last twelve months and EUR607 million ($942 million) inception to date.  For more information about European
Capital's portfolio, go to www.EuropeanCapital.com/Our_Portfolio/Portfolio.html 

    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 EUR2.4 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 EUR5 million and
EUR500 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 EUR5 million to EUR500 million per company in Europe.

    1 Capital 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. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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