NEW YORK, Nov. 26, 2014 /PRNewswire/ -- Alcentra Capital Corporation (NASDAQ Global Select Market: "ABDC") ("Alcentra") announced today that Alcentra has provided $15.0 million in a First Lien Term Loan to NARL Marketing, Inc. ("NARL Marketing" or the "Company"), the retail and marketing operations of North Atlantic Refining Limited ("NARL").
NARL Marketing is headquartered in St. John's, Newfoundland. The business activities of the Company include 52 retail gas stations, of which three have commercial card locks on site; a branded home heating business that provides furnace oil and propane to approximately 20,000 residential heating and commercial customers throughout the island of Newfoundland; a commercial business that sells refined products to construction companies, restaurants, hotels, fisheries and other community establishments; and a wholesale business that engages blue chip customers in Canada including various major oil and gas companies.
About Alcentra Capital Corporation
Alcentra (www.alcentracapital.com) is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Alcentra's investment objective is to generate both current income and capital appreciation primarily by making direct investments in lower middle-market companies in the form of subordinated debt and, to a lesser extent, senior debt and minority equity investments. Alcentra's investment activities are managed by its investment adviser, Alcentra NY, LLC.
About Alcentra NY, LLC
Alcentra NY, LLC is part of BNY Alcentra Group Holdings, Inc. ("Alcentra Group"), one of the world's leading sub-investment grade credit asset managers focusing on the U.S. and European markets. Alcentra Group has an investment track record that spans across 50 separate investment funds totaling approximately $24 billion (including accounts managed by Alcentra NY, LLC, Alcentra Ltd, and assets managed by Alcentra Group personnel for affiliates under dual officer arrangements.)
Statements included herein may contain "forward-looking statements," which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus filed with the Securities and Exchange Commission on May 9, 2014. Alcentra undertakes no duty to update any forward-looking statement made herein except as required by law. All forward-looking statements speak only as of the date of this press release.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alcentra-capital-corporation-provides-150-million-first-lien-term-loan-to-narl-marketing-inc-300001718.html
SOURCE Alcentra Capital Corporation