AMG Announces Completion of $950 Million Senior Credit Facility.BOSTON -- Affiliated Managers Group, Inc. (NYSE NYSE See: New York Stock Exchange : AMG AMG All Music Guide (music website) AMG All Media Guide (group of media websites) AMG All Movie Guide (Movie website) AMG Arzneimittelgesetz (German Law) ) announced that it has closed an amended and restated $950 million senior credit facility. The facility, which may be increased to $1.2 billion, replaces AMG's previous $650 million credit facility. The new facility was syndicated among a group of lenders, including Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A., as lead agent, and JPMorgan Chase Bank, N.A., U.S. Bank National Association, The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , Calyon New York Branch and RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) Citizens, National Association, as co-agents. "The increase in AMG's credit facility, combined with our strong cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses , provides the Company with substantial capacity to execute our growth strategy," said Darrell W. Crate, Executive Vice President and Chief Financial Officer of AMG. "With a diverse balance sheet and enhanced liquidity, we look forward to producing outstanding returns for our shareholders, through the internal growth of our existing Affiliates, as well as accretive investments in additional, growing boutique asset management firms This is a list of corporations that provide financial asset management.
AMG is an asset management company with equity investments in a diverse group of boutique investment management firms. Pro forma for its investment in ValueAct Capital and pending investment in Cooke & Bieler, AMG's affiliated investment management firms managed approximately $292 billion in assets at September 30, 2007. Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including changes in the securities or financial markets or in general economic conditions, the availability of equity and debt financing, competition for acquisitions of interests in investment management firms, our ability to complete pending acquisitions, the investment performance of our Affiliates and their ability to effectively market their investment strategies, and other risks detailed from time to time in AMG's filings with the Securities and Exchange Commission. Reference is hereby made to the "Cautionary Statements" set forth in the Company's Form 10-K for the year ended December 31, 2006. For more information on Affiliated Managers Group, Inc., please visit AMG's Web site at www.amg.com. |
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