NEW YORK, Oct. 1, 2018 /PRNewswire/ -- Alcentra
Capital Corporation (NASDAQ: ABDC), ("Alcentra Capital" or the
"Company"), a provider of debt financing solutions to
middle-market companies based in the
United States, today announced that William H. Wright II and Frederick Van Zijl have joined the Board of
Directors, effective as of September 16,
2018.
In addition, Alcentra Capital announced that it has entered into
an amended and restated senior secured revolving credit agreement.
This agreement replaces the prior agreement dated May 8, 2014, and updates certain commitments by
lenders, maturity dates and covenant agreements.
Vijay Rajguru, Chief Executive
Officer for Alcentra Capital Corporation, said:
"We remain committed to our strategy to improve Alcentra
Capital's portfolio, expand its investment strategy and enact
performance improvement measures. We believe the amended credit
agreement and new additions to our Board are positive steps toward
that end. We look forward to the valuable insight and diverse
perspectives that Bill and Rick will provide as we continue to
execute on our strategic initiatives and drive value for our
shareholders."
William Wright previously served
as a Managing Director of Morgan Stanley until his retirement in
2010, having joined the firm in 1982. He served as head of Morgan
Stanley's Corporate Finance Execution group, where he was
responsible for leading and coordinating teams in the execution of
complex equity offerings for multinational corporations, and as
Worldwide Director of the firm's Financial Analyst Program for two
years. In May 2013, Mr. Wright was
elected an independent director of Zweig Fund and Zweig Total
Return Fund, where he served as chairman of the audit committees
and the designated financial expert.
Frederick Van Zijl is the founder
of RVZ Strategic Advisors, LLC, which provides consulting services
on middle market private equity and credit opportunities in the
insurance, specialty finance, and asset management industries.
Prior to founding RVZ Strategic Advisors, LLC in 2012, Mr.
Van Zijl served as a Managing
Director of Fortress Investment Group from 2010 through 2012, where
he focused on private equity opportunities in the financial
institution, transportation, and telecommunications industries, and
as Managing Director and Head of US Leveraged Finance, Leveraged
Loans, and Mezzanine Finance at Barclays Capital from 2006 through
2009.
On September 21, 2018, Alcentra
Capital amended its existing credit agreement whereby the Company
reduced their cost of capital, provided greater flexibility to
enter into multi-currency loans and extended the maturity of the
credit facility to September 21,
2022.
ABOUT ALCENTRA CAPITAL CORPORATION
Alcentra Capital Corporation provides customized debt and equity
financing solutions to middle-market companies, which the Company
generally defines as U.S. based companies having between $15.0
million and $75.0 million of EBITDA. Alcentra
Capital's investment objective is to provide attractive
risk-adjusted returns by generating both current income from our
debt investments and capital appreciation from our equity related
investments. Alcentra Capital seeks to partner with business
owners, management teams and financial sponsors by providing
customized financing for change of ownership transactions,
recapitalizations, strategic acquisitions, business expansion and
other growth initiatives.
Alcentra Capital is an externally managed, closed-end,
non-diversified management investment company that has elected to
be treated as a business development company under the Investment
Company Act of 1940. In addition, for tax purposes, Alcentra
Capital has elected to be treated as a regulated investment
company, under Subchapter M of the Internal Revenue Code of
1986.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking
statements. Any such statements, other than statements of
historical fact, are based on management's current expectations,
estimates, projections, beliefs and assumptions about the Company,
its current and prospective portfolio investments, and its
industry. These statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, some of
which are beyond the Company's control, difficult to predict and
could cause actual results to differ materially from those expected
or forecasted in such forward-looking statements. Actual
developments and results are likely to vary materially from these
estimates and projections as a result of a number of factors,
including those described from time to time in the Company's
filings with the Securities and Exchange Commission. Such
statements speak only as of the time when made, and the Company
undertakes no obligation to update any such forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by law.
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SOURCE Alcentra Capital Corporation