On Tuesday, Shares of American Capital Ltd. (NASDAQ:ACAS), lost -1.84% to $14.44.
European Capital Limited and its associates (“European Capital”) and American Capital, Ltd. (ACAS), declared that they have received total proceeds of €91.4 million from exiting their unitranche investments in Delsey (the “Company”). European Capital and American Capital also declared that they have invested an additional €7.8 million in subordinated mezzanine bonds to support the Company’s refinancing and future growth.
In February 2007, European Capital invested €120 million in the unitranche facility put in place to support the acquisition of Delsey. At that time, it was the first European mid-market transaction to combine the traditional senior debt and mezzanine facility to offer a one-stop financing solution to the sponsor with a single lender and an attractive interest rate. European Capital’s partial exit comes as Delsey’s majority shareholders, Argan Capital and Partners Group on behalf of its clients, decided to refinance 100% of the unitranche bonds to further pursue the Company’s growth strategy implemented over the past years, in particular through geographic expansion and penetration of new distribution channels.
Founded in 1946, Delsey is now one of the top four leading global luggage brands, with products sold in more than 100 countries. The Company focuses on product design, marketing and sales of high quality travel luggage and travel accessories. With its French roots and compriseent innovation, the Delsey brand and its full range of hard and soft-sided travel luggage are sold worldwide through a strong network of distributors in addition to direct sales via internet and Company-owned retail stores.
American Capital, Ltd. is a private equity and venture capital firm. It is a business development company specializing in administration and employee buyouts, subordinated debt, leveraged finance, mezzanine, acquisition, recapitalization, middle market, early venture, mature, industry consolidation, and growth capital investments. The firm seeks to invest in senior debt mezzanine, unitranche, and equity financing for buyouts of private equity firms and direct in private and public companies. It also invests in special situations and in government.
Shares of Opko Health Inc. (NYSE:OPK), inclined 1.69% to $10.81, during its last trading session.
OPKO Health, declared that senior administration will present at the Jefferies Autumn 2015 Healthcare Conference on Wednesday, November 18, 2015, at 2:00 GMT in London, England.
OPKO Health, Inc., a biopharmaceutical and diagnostics company, engages in the discovery, development, and commercialization of novel and proprietary technologies in the United States and internationally. It operates through two segments, Pharmaceuticals and Diagnostics.
Finally, Shares of Met life Inc (NYSE:MET), ended its last trade with -0.36% loss, and closed at $50.28.
MetLife, declared that it has declared a quarterly dividend of $0.25277777 per share on the company’s floating rate non-cumulative preferred stock, Series A, with a liquidation preference of $25 per share (NYSE: METPrA). The company also declared an initial dividend of $28.29166666 per share on the company’s 5.250% fixed-to-floating rate non-cumulative preferred stock, Series C, with a liquidation preference of $1,000 per share. Both dividends will be payable Dec. 15, 2015, to shareholders of record as of Nov. 30, 2015.
MetLife, Inc. provides life insurance, annuities, employee benefits, and asset administration products in the United States, Japan, Latin America, Asia, Europe, and the Middle East. It operates in six segments: Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America; Asia; and Europe, the Middle East and Africa.