Equus Total Return, Inc. Announces $10 Million Credit Agreement With Regions Bank
August 22 2006 - 7:17PM
PR Newswire (US)
HOUSTON, Aug. 22 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) ("Equus" or the "Fund") announces a new revolving line
of credit agreement with Regions Bank for $10 million. The initial
term of the agreement is through December 31, 2007 and the loan is
secured by the Fund's investments. "This credit facility
strengthens the investment flexibility and liquidity position of
the Fund. We are pleased to continue our relationship with Regions
Bank and we look forward to developing opportunities together well
into the future," commented Sam P. Douglass, Co-Chairman of Equus.
"Regions Bank Private Banking is pleased to support the activities
of Equus with this new line of credit. Regions Management in
Houston has known Equus for many years and the association should
provide the basis for an expansion of the relationship for years to
come," said Terry Pruden, Private Banking Sales Manager for Regions
Bank. Equus is a business development company that trades as a
closed-end fund on the New York Stock Exchange, under the symbol
"EQS". Additional information on Equus may be obtained from the
website at http://www.equuscap.com/ . Regions Financial Corporation
(NYSE:RF), headquartered in Birmingham, Ala., is a full-service
provider of retail and commercial banking, trust, securities
brokerage, mortgage and insurance products and services. Regions
had $84.8 billion in assets as of December 31, 2005, making it one
of the nation's Top 15 banks. Regions' banking subsidiary, Regions
Bank, operates some 1,300 offices and a 1,600-ATM network across a
16-state geographic footprint in the South, Midwest and Texas. Its
investment and securities brokerage, trust and asset management
division, Morgan Keegan & Company Inc., provides services from
over 280 offices. This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Fund's current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in
the Fund's filings with the Securities and Exchange Commission.
Actual results, events, and performance may differ. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Fund
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Fund or any other
person that the events or circumstances described in such
statements are material. CONTACT: Brett Chiles (713) 529-0900
DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles of Equus
Total Return, Inc., +1-713-529-0900 Web site:
http://www.equuscap.com/
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