15.89 Million Common Shares Placed
SAN JUAN, Puerto Rico, April 28 /Xinhua-PRNewswire/ -- Arco Capital Corporation Ltd. ("ACC") today announced that it has completed a $238.4 million private offering of its common shares. ACC is a holding company that, through its subsidiaries, engages in lending and acquisition activities primarily in emerging European and Latin American markets. ACC is externally managed by Arco Capital Management LLC ("ACM"), which is beneficially owned in part by the principals of Gramercy Advisors LLC and its affiliates, a leading asset manager of emerging market investments with $3.8 billion face value of assets and nearly $2 billion in equity capital under management as of March 31, 2007.
In the offering, ACC sold an aggregate of 15.89 million of its common shares in transactions that were exempt from registration under U.S. Securities Act of 1933, as amended (the "Securities Act"), pursuant to Rule 144A, Regulation S and Regulation D. ACC will be using the net proceeds from the transactions, together with credit facilities, to engage in lending and acquisition activities in its target markets.
Citigroup Global Markets Inc. served as sole initial purchaser and placement agent for the offering.
Commenting on the transaction, Jay Johnston, Chairman and Chief Executive Officer of ACC said "The ACC management team is excited about building a truly unique specialty finance company expressly catering to our target markets."
About Arco Capital Corporation Ltd.
Arco Capital Corporation Ltd. ("ACC") is a holding company domiciled in the Cayman Islands that, through its subsidiaries, engages in lending and acquisition activities in emerging European and Latin American markets. ACC is externally managed by Puerto Rico domiciled Arco Capital Management LLC ("ACM"), which is beneficially owned in part by the principals of Gramercy Advisors LLC and its affiliates, a leading U.S. based asset manager in emerging market investments with $3.8 billion face value of assets and nearly $2 billion in equity capital under management as of March 31, 2007.
This announcement does not constitute or form part of an offer to sell or solicitation of an offer to purchase or subscribe for securities in the United States or in any other jurisdiction. The securities referred to herein have not been and will not be registered under the Securities Act or under the securities laws of any other jurisdiction, and may not be reoffered or resold within the United States or in any other jurisdiction absent registration or pursuant to an applicable exemption from the registration requirements of the Securities Act or from the registration requirements in any such other jurisdiction. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities. No public offering of securities is being made in the United States or in any other jurisdiction.
