NEW YORK, Oct. 1, 2018 /PRNewswire/ -- Alcentra Capital Corporation ABDC, ("Alcentra Capital" or the "Company"), a provider of debt financing solutions to middle-market companies based in the United States, today announced that William H. Wright II and Frederick Van Zijl have joined the Board of Directors, effective as of September 16, 2018.

In addition, Alcentra Capital announced that it has entered into an amended and restated senior secured revolving credit agreement. This agreement replaces the prior agreement dated May 8, 2014, and updates certain commitments by lenders, maturity dates and covenant agreements. 

Vijay Rajguru, Chief Executive Officer for Alcentra Capital Corporation, said:

"We remain committed to our strategy to improve Alcentra Capital's portfolio, expand its investment strategy and enact performance improvement measures. We believe the amended credit agreement and new additions to our Board are positive steps toward that end. We look forward to the valuable insight and diverse perspectives that Bill and Rick will provide as we continue to execute on our strategic initiatives and drive value for our shareholders."

William Wright previously served as a Managing Director of Morgan Stanley until his retirement in 2010, having joined the firm in 1982. He served as head of Morgan Stanley's Corporate Finance Execution group, where he was responsible for leading and coordinating teams in the execution of complex equity offerings for multinational corporations, and as Worldwide Director of the firm's Financial Analyst Program for two years. In May 2013, Mr. Wright was elected an independent director of Zweig Fund and Zweig Total Return Fund, where he served as chairman of the audit committees and the designated financial expert.

Frederick Van Zijl is the founder of RVZ Strategic Advisors, LLC, which provides consulting services on middle market private equity and credit opportunities in the insurance, specialty finance, and asset management industries. Prior to founding RVZ Strategic Advisors, LLC in 2012, Mr. Van Zijl served as a Managing Director of Fortress Investment Group from 2010 through 2012, where he focused on private equity opportunities in the financial institution, transportation, and telecommunications industries, and as Managing Director and Head of US Leveraged Finance, Leveraged Loans, and Mezzanine Finance at Barclays Capital from 2006 through 2009.

On September 21, 2018, Alcentra Capital amended its existing credit agreement whereby the Company reduced their cost of capital, provided greater flexibility to enter into multi-currency loans and extended the maturity of the credit facility to September 21, 2022.

ABOUT ALCENTRA CAPITAL CORPORATION

Alcentra Capital Corporation provides customized debt and equity financing solutions to middle-market companies, which the Company generally defines as U.S. based companies having between $15.0 million and $75.0 million of EBITDA. Alcentra Capital's investment objective is to provide attractive risk-adjusted returns by generating both current income from our debt investments and capital appreciation from our equity related investments. Alcentra Capital seeks to partner with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.

Alcentra Capital is an externally managed, closed-end, non-diversified management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. In addition, for tax purposes, Alcentra Capital has elected to be treated as a regulated investment company, under Subchapter M of the Internal Revenue Code of 1986.

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are based on management's current expectations, estimates, projections, beliefs and assumptions about the Company, its current and prospective portfolio investments, and its industry. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control, difficult to predict and could cause actual results to differ materially from those expected or forecasted in such forward-looking statements. Actual developments and results are likely to vary materially from these estimates and projections as a result of a number of factors, including those described from time to time in the Company's filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

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SOURCE Alcentra Capital Corporation