HOUSTON, Aug. 26 /PRNewswire-FirstCall/ -- Equus Total Return, Inc. ("Equus" or the "Fund") announces that it has entered into a new revolving line of credit agreement with Amegy Bank of Texas ("Amegy") for $7.5 million. The initial term of the agreement is through February 2010 and the loan is secured by the Fund's investments.
"We are pleased to establish a new credit line for Equus Total Return and a new relationship with Amegy Bank as we look to build the resources of the Fund. We believe this facility will enable the Fund to more effectively capitalize on new investment opportunities, as well as existing follow-on opportunities within the Equus portfolio" commented Kenneth Denos, CEO and President of Equus.
"Amegy Bank is pleased to support the activities of Equus with this new line of credit. Amegy is eager to work with Equus, and the association should provide the basis for the development of a long lasting business relationship," said Bill Pyle, Senior Vice President of Amegy.
Equus is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on Equus Total Return, Inc. may be obtained from the Equus website at http://www.equuscap.com/.
Amegy Bank of Texas is one of the fastest growing banks in Texas. With assets of more than $11 billion, local decision making and a history of relationship banking, Amegy has the resources to serve leading Texas companies as a source of capital as well as provide efficient and effective treasury management, international and investment services. Amegy, with more than 85 locations in the state, specializes in commercial banking as well as private financial management and trust services for families and individuals, and retail and mortgage banking services. Amegy is a part of the Zions Bancorporation .
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission. Actual results, events and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the fund or any other person that the events or circumstances described in such statements are material.
CONTACT: Brett Chiles
(713) 529-0900
