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American Capital Completes Buyout and Recapitalization of Piper Aircraft

Bethesda, MD – July 21, 2003 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has completed the buyout and recapitalization of its portfolio company, Piper Aircraft Inc. ("Piper"), by purchasing $57 million of Piper's senior debt for $34 million and providing a revolving loan facility. In addition, American Capital exchanged $22 million of the purchased senior debt for common equity in Piper. American Capital's original $20 million investment in subordinated debt is now a senior facility. American Capital now owns 94% of Piper's voting equity. [more...]

Piper Aircraft: Soaring High

Piper Aircraft, Inc., based in Vero Beach, FL, is a leading manufacturer of general aviation aircraft. Founded in 1937, the company became famous for its yellow "Cub", a cloth covered, two-seat airplane used in World War II. With years of steady growth, great brand loyalty and the manufacturing of industry-renowned, high quality and excellent performance aircrafts, Piper has grown into a major industry player and the only general aviation manufacturer to offer a complete line of aircraft for every general aviation mission. [more...]

American Capital Invests $20 Million in Piper Aircraft

BETHESDA, Md., May 28 /PRNewswire/ – American Capital Strategies (Nasdaq: ACAS) announced today that it has invested $20 million in Piper Aircraft, Inc., in the form of subordinated debt with warrants. Piper designs, develops and manufactures general aviation aircraft for domestic and international markets. [more...]