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Article: Allied Capital Announces Successful Syndication of $102 Million of Senior Debt Facilities For Portfolio Company Norwesco, Inc.
- Article from:
- Business Wire
- Article date:
- April 8, 2008
CopyrightCOPYRIGHT 2008 Business Wire. 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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WASHINGTON -- Allied Capital Corporation (NYSE:ALD) announced today that it has successfully structured and syndicated $102 million of senior secured credit facilities for portfolio company Norwesco, Inc. Allied Capital acted as Sole Lead Arranger and Bookrunner for the transaction. The transaction recapitalized Norwesco's existing capital structure. The fully-subscribed syndication closed on March 28, 2008 on its original terms and pricing.
In connection with this recapitalization, Allied Capital was repaid $17.5 million of subordinated debt and received an equity distribution of $36.5 million, which included dividend income of approximately $7 million.
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