|
|
Article: American Capital Realizes 24% Return on Investment in ACE Cash Express.
- Article from:
- PR Newswire
- Article date:
- May 26, 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)
|
American Capital Strategies Ltd. announced today that it has been repaid its $40 million senior and subordinated debt investments in ACE Cash Express Inc. , realizing a 24% compounded annual rate of return. ACE, one of the nation's largest owners, operators and franchisors of retail financial services stores, has used proceeds from its recent successful follow-on public stock offering to repay the American Capital notes. The 24% return includes the interest and fees received over the life of American Capital's investment in the company. In March 2003, American Capital invested $40 million to recapitalize ACE's term loans and senior notes.
For more information ...