NEW YORK, Nov. 16, 2017 /PRNewswire/ -- Alcentra
Capital Corporation (NASDAQ Global Select Market: "ABDC")
("Alcentra") announced today that its Board of Directors has
expanded its open-market stock repurchase program by $2.5 million to $5.0 million (the "Program"). Pursuant to
the Program, which was initially announced on November 6, 2017, Alcentra is authorized to
repurchase up to $5.0 million in
aggregate amount of its outstanding common stock in the open market
through November 2, 2018.
Alcentra has also entered into a pre-arranged repurchase plan
established pursuant to Rule 10b5-1 under the Securities Exchange
Act of 1934 to facilitate the repurchases of shares of its common
stock under the Program. The Rule 10b5-1 repurchase plan will be in
effect through January 31, 2018.
For information on recent purchases and sales of Alcentra's
common stock by its executive officers and directors, please
see https://investors.alcentracapital.com/sec-filings.
About Alcentra Capital Corporation
Alcentra Capital Corporation makes debt and minority equity
co-investments to U.S. middle and lower middle market companies.
Its investment objective is to provide attractive risk-adjusted
returns by generating both current income from debt investments and
capital appreciation from equity related investments. As a business
development company that has elected to be treated as a regulated
investment company for tax purposes, Alcentra is required to
distribute at least 90 percent of its taxable income to
shareholders, making it a yield play for investors.
About Alcentra NY, LLC
Alcentra NY, LLC ("Alcentra NY") is the US-based investment
advisory business of BNY Alcentra Group Holdings, Inc. ("Alcentra
Group"). Alcentra NY is a limited liability company established in
the State of Delaware and is
located at 200 Park Avenue, New York,
NY, 10166. Alcentra NY is regulated by the SEC and is a
subsidiary of Alcentra Group. Alcentra NY and its affiliates had
assets under management of $34.7
billion as of September 30,
20171.
1 Assets under management reflect assets of all
accounts and portions of accounts managed by Alcentra Group for
Alcentra Group and its affiliates. Specifically, certain assets
under management reflect assets managed by Alcentra Group personnel
as employees of Standish Mellon Asset Management LLC, The Bank of
New York Mellon and The Dreyfus Corporation under a dual employee
arrangement.
Forward-Looking Statements
Statements included herein may contain "forward-looking
statements," which relate to future performance or financial
condition. Statements other than statements of historical fact
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of assumptions, risks and uncertainties, which
change over time. Actual results may differ materially from those
anticipated in any forward-looking statements as a result of a
number of factors, including those described from time to time in
filings by Alcentra with the Securities and Exchange Commission.
Alcentra undertakes no duty to update any forward-looking statement
made herein except as required by law. All forward-looking
statements speak only as of the date of this press release.
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SOURCE Alcentra Capital Corporation