Equus Total Return, Inc. Announces $7.5 Million Credit Agreement with Amegy Bank of Texas
August 26 2008 - 4:56PM
PR Newswire (US)
HOUSTON, Aug. 26 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) ("Equus" or the "Fund") announces that it has entered
into a new revolving line of credit agreement with Amegy Bank of
Texas ("Amegy") for $7.5 million. The initial term of the agreement
is through February 2010 and the loan is secured by the Fund's
investments. "We are pleased to establish a new credit line for
Equus Total Return and a new relationship with Amegy Bank as we
look to build the resources of the Fund. We believe this facility
will enable the Fund to more effectively capitalize on new
investment opportunities, as well as existing follow-on
opportunities within the Equus portfolio" commented Kenneth Denos,
CEO and President of Equus. "Amegy Bank is pleased to support the
activities of Equus with this new line of credit. Amegy is eager to
work with Equus, and the association should provide the basis for
the development of a long lasting business relationship," said Bill
Pyle, Senior Vice President of Amegy. 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 Total Return, Inc. may be obtained from the Equus website
at http://www.equuscap.com/. Amegy Bank of Texas is one of the
fastest growing banks in Texas. With assets of more than $11
billion, local decision making and a history of relationship
banking, Amegy has the resources to serve leading Texas companies
as a source of capital as well as provide efficient and effective
treasury management, international and investment services. Amegy,
with more than 85 locations in the state, specializes in commercial
banking as well as private financial management and trust services
for families and individuals, and retail and mortgage banking
services. Amegy is a part of the Zions Bancorporation
(NASDAQ:ZION). 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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