Allied Capital Announces Investment in Nexcel Synthetics, LLC.Business Editors WASHINGTON--(BUSINESS WIRE)--Jan. 30, 2004 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has provided $10 million in subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and $1.69 million in equity capital to Nexcel Synthetics, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a manufacturer of carpet backing, specialty synthetic yarns and fibers, and other polypropylene- and polyethylene-based products. The investment was made in conjunction with Blue Point Capital Partners' recapitalization of the company. "We are fortunate to have this opportunity to work with Nexcel and Blue Point Capital Partners. Nexcel is led by proven entrepreneurs, who combine years of industry experience with technological innovation to consistently produce high quality products," said Bill Walton, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Allied Capital. About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt and equity investment capital to support the expansion of companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities and collateralized debt obligation Collateralized Debt Obligation (CDO) A general inclusive term which covers Collateralized Bond Obligations, Collateralized Loan Obligations, and Collateralized Mortgage Obligations, bonds and preferred shares. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. About Nexcel Synthetics, LLC Nexcel segments its products into two broad categories: carpet backing and specialty products. Nexcel's senior management team, which founded the company in 1997, has significant experience producing woven synthetic fabrics for the carpet industry and polypropylene-based products used to produce synthetic grass yarns for artificial turf and concrete reinforcing fibers. The company's manufacturing facilities are located in Birmingham, AL, and Dadeville, AL. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in Allied Capital's periodic filings with the Securities and Exchange Commission. |
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