BETHESDA, Md., Jan. 7, 2014 /PRNewswire/ -- American Capital Senior Floating, Ltd. (the "Company") announced today that it plans to conduct an initial public offering of its common stock. The Company expects to offer 10,000,000 shares to the public at the proposed initial public offering price of $15.00 per share, for estimated net proceeds of approximately $149,000,000. As part of this offering, the Company's manager, American Capital ACSF Management, LLC (the "Manager"), has agreed to pay the underwriting discounts and commissions on the Company's behalf. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. The Company has applied to list its common stock on The NASDAQ Global Market under the symbol ACSF. The completion of the proposed offering depends upon several factors, including market and other conditions. The underwriters expect to reserve up to 299,900 shares of the Company's common stock for sale to American Capital Asset Management, LLC ("ACAM"), a wholly-owned portfolio company of American Capital, Ltd. ("American Capital") (Nasdaq: ACAS), and up to 200,100 shares of the Company's common stock for sale to certain employees of the parent company of the Manager through a directed share program. As a result, ACAM would own an aggregate of approximately 3% of the Company's outstanding common stock upon completion of the offering, assuming no exercise of the over-allotment. The Company plans to use the net proceeds of the initial public offering to pay the outstanding principal of, and accrued and unpaid interest on, its credit facility with ACAM, which the Company drew on to finance its initial investment portfolio and matures on the earlier of the consummation of this offering and October 15, 2014. The Company expects to use any remaining net proceeds to (1) repay American Capital for the Company's organizational and offering costs, (2) invest in first lien and second lien floating rate loans to large market, U.S. based companies ("Leveraged Loans") and in equity tranches of collateralized loan obligations collateralized by Leveraged Loans and (3) for general working capital purposes. Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc. and UBS Securities LLC are joint-book running managers for the offering. Credit Suisse Securities ( USA) LLC, J.P. Morgan Securities LLC, Oppenheimer & Co. Inc. and RBC Capital Markets, LLC are co-lead managers for the offering. BB&T Capital Markets, a division of BB&T Securities, LLC, Sterne, Agee & Leach, Inc. and Wunderlich Securities, Inc. are co-managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective.