| American Capital Invests in the One Stop Buyout(TM) of Travel Document ...
BETHESDA, Md. Jan. 25 /PRNewswire-FirstCall/ -- American Capital Strategies Ltd. (NASDAQ: ACAS) announced today that it has sponsored and invested in the One Stop Buyout(TM) of its portfolio company CIBT Holdings Inc., the world's largest expeditor of short-term visas, passports and other documents for business and leisure travel. American Capital's new investment takes the form of a senior term loan, senior and junior subordinated debt and convertible preferred and common equity. American Capital is also providing a revolving credit facility and an acquisition facility. CIBT management is investing equity in the company. American Capital first invested in CIBT in May 2006, providing $74 million in a revolving line of credit, unitranche term debt and an acquisition facility to support Audax Group's acquisition of CIBT.
May 2007 Archive
Cope Millers wrap up Mediterranean visit Actions will not be forgotten Vancrest couple celebrates 69th anniversary, residents pet donkeys Arnzen's career touched hundreds of youth Cowan joins Spherion as VP of business development Downtown can be revitalized Delphos Relay, Herald win awards Amy C. (Baldauf ) Foust .
Fine in 2009 (Not So Great in 2008)
In its accompanying statement, the Fed wanly noted that its actions "should help promote moderate growth over time" when "combined with the policy actions [75 basis points of fed funds cuts] taken earlier." Stocks promptly dropped by more than 2.5 percent, while interest rates fell by 25 basis points, and the dollar fell by nearly 1 percent against the yen. These adjustments were very large given that markets had expected the 25-basis-point cuts. Hours after the rate cut announcements, through a leak to CNBC's evening talk show on financial markets, the Fed provided a hint that it was holding a little more candy up its sleeve. The next morning, on December 12, as had been hinted via CNBC, it was breathlessly revealed that the Fed, along with central banks in England, Europe, and Canada--with good wishes from the ever-passive Bank of Japan--was establishing measures to enhance liquidity in the banking system.
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