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Article: American Capital is Repaid by TransCore; Earns $1.7 MM Gain.
- Article from:
- PR Newswire
- Article date:
- January 20, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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American Capital Strategies Ltd. announced today it has been repaid its $27 million subordinated debt investment in TransCore Holdings Inc., earning a $1.7 million realized gain and a 21% compounded annual return. TransCore's subordinated debt has been recapitalized by existing senior lenders. The repayment occurred in January and American Capital retains its warrant and preferred equity investments representing an approximately 8% ownership interest in TransCore.
"We have been delighted to participate in TransCore's growth," said American Capital Principal and Managing Director Darin Winn. "The combination of TransCore's strong management, incentivized ...