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DEVGLASS

European Capital Refinances €40 Million in Senior Bonds of DEVGLASS

St. Peter Port, Guernsey – 18 October 2007 – European Capital Limited ("European Capital") (LSE: ECAS) announced today that on 9 October a wholly-owned subsidiary of European Capital completed the refinancing of €40 million in senior bonds of portfolio company DEVGLASS.  Banque Populaire Atlantique and Natixis each provided €20 million of senior term loan facilities. Following the refinancing, European Capital continues to hold senior and junior mezzanine bonds, convertible bonds and common equity in DEVGLASS. European Capital completed its original One Stop Buyout™ of DEVGLASS on July 13, 2007 alongside Olivier Rambeau, DEVGLASS’ CEO and Chairman, who continues to hold a majority stake. [more...]

European Capital Invests in The One Stop Buyout(TM) of DEVGLASS, Holds 40% Equity Stake

European Capital S.A. SICAR, a wholly-owned subsidiary of European Capital Limited (LSE: ECAS), announced today that it has invested in the One Stop Buyout™ of DEVGLASS, the leading independent French manufacturer and distributor of dual-pane insulated glass for windows. The investment was led by the Paris office of European Capital Financial Services Limited (“European Capital Services”), the sub-investment manager of European Capital. The investment was made by European Capital S.A. SICAR and its subsidiary ECAS S.à.r.l, and takes the form of senior bonds, senior and junior mezzanine bonds, convertible bonds and common equity. European Capital holds 40% of the equity in DEVGLASS alongside Olivier Rambeau, DEVGLASS’ Chairman and CEO, who continues to hold a majority equity stake. [more...]