Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Affiliated Managers Group, Inc.    AMG

Delayed Quote. Delayed  - 02/05 04:02:01 pm
124.75 USD   -3.04%
02/02DJWaddell & Reed Shares Plunge
02/02 AFFILIATED MANA : tops 4Q profit forecasts
02/02 AFFILIATED MANA : AMG Reports Financial and Operating Results for th..
News SummaryMost relevantAll newsSector news 

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.

© Business Wire 2007
React to this article
02/02DJWaddell & Reed Shares Plunge
02/02 AFFILIATED MANAGERS : tops 4Q profit forecasts
02/02 AFFILIATED MANAGERS : Results of Operations and Financial Condition, Financial S..
02/02 AFFILIATED MANAGERS : AMG Reports Financial and Operating Results for the Fourth..
01/26 AFFILIATED MANAGERS : AMG to Announce Fourth Quarter and Full Year Results on Fe..
01/12 AFFILIATED MANAGERS : Investors Confident in Active Management in 2016
01/05 AFFILIATED MANAGERS : AMG Announces Investment in Baring Private Equity Asia
01/04 AFFILIATED MANAGERS : AMG Announces Completion of Three Recent New Investments
2015DJAsset Managers Follow Rebound in Junk Bonds
2015DJJunk-Bond Selloff Intensifies
News chart
Full-screen chart
Income Statement Evolution
More Financials