Affiliated Managers : AMG Announces Completion of $650 Million Senior Credit Facility
02/08/2007| 03:31pm US/Eastern
Affiliated Managers Group, Inc. (NYSE: AMG) announced that it has closed
an amended and restated $650 million five-year senior credit facility.
The facility, which may be increased to $800 million, replaces AMG's
previous $550 million credit facility. The new facility was syndicated
among a group of lenders, including Bank of America, N.A., as lead
agent, and JPMorgan Chase Bank, N.A., U.S. Bank National Association,
The Bank of New York, Calyon New York Branch and Citizens Bank of
Massachusetts, as co-agents.
?We are pleased with this increased level of
commitment from our banking partners,? said
Darrell W. Crate, Executive Vice President and Chief Financial Officer
of AMG. ?This new credit facility supplements
our strong balance sheet and substantial cash flow from operations, and
provides us with additional liquidity and flexibility. As we enter 2007,
we remain focused on generating excellent returns for our shareholders,
through the execution of new investments, repayment of existing
indebtedness, or the repurchase of our common stock, as appropriate.?
AMG is an asset management company with equity investments in a diverse
group of mid-sized investment management firms. AMG's
affiliated investment management firms managed approximately $241
billion in assets at December 31, 2006.
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, 2005.
For more information on Affiliated Managers Group, Inc., please visit
AMG's Web site at www.amg.com.
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