American Capital loan restructuring deadline extended to March 15

By Caroline Salls

Pittsburgh, Feb. 1 - American Capital, Ltd. has obtained an extension from its revolving credit facility lenders to the company's deadline for completing a restructuring of its credit facility and other principal unsecured debt arrangements to March 15, according to an 8-K filed with the Securities and Exchange Commission.

American Capital said the deadline can be extended to March 31 with the consent of lender agent Wachovia Bank, NA.

If the company chooses to file a pre-packaged bankruptcy case before the restructuring deadline, the pre-packaged plan of reorganization must be confirmed by May 15, subject to an extension to May 31.

American Capital is a Bethesda, Md.-based private equity firm and global asset manager.

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