- Reduce the interest rate from LIBOR plus 3.00% to LIBOR plus 2.75%;
- Reduce the LIBOR floor from 1.00% to 0.75%; and
- Extend the maturity of the facility by one year to August 2017.
Large publicly-traded private equity firms have seen their share prices drop significantly over the past year but they are virtually impenetrable when it comes to shareholder insurgencies. Here's why.
American Capital (ACAS) stock is increasing on Monday afternoon as Ares Capital (ARCC) agreed to purchase its smaller rival in a cash-and-stock deal valued at $3.4 billion.