FACTBOX-Key facts about investment fund Carlyle Capital
March 13 (Reuters) - Carlyle Capital Corp CARC.AS, an affiliate of U.S.-based buyout firm Carlyle Group [CYL.UL], said late on Wednesday it has defaulted on about $16.6 billion of its debt and its lenders would likely seize its remaining assets.
For the latest on the Carlyle Group, click on [nL13503384].
Following are some key facts about Carlyle Capital:
* BASIC FACTS:
Market Capitalisation: $55.87m
Revenue: $1,067.89m
Total Assets: $21,758.17m
Total Liabilities: $21,088.7m
* Based in Britain's tax-friendly offshore dependency of Guernsey, Carlyle Capital Corporation Limited invests in fixed income asset classes.
* Listed in Amsterdam's stock exchange, the closed-end investment fund's troubles began on March 6, when it said it had not been able to meet some margin calls and had received a notice of default. Since the liquidity crisis in global fixed income markets started in August, it has sold almost $1 billion in assets to improve liquidity and reduce leverage.
* U.S.-based buyout giant Carlyle Group negotiated with lenders and was prepared to provide substantial additional capital if a successful refinancing could be achieved. But a reported further drop in the value of the mortgage-backed securities collateral led to a further deterioration in the situation.
* Carlyle Capital said late on Wednesday it was unable to meet margin calls of more than $400 million and was now in default on about $16.6 billion of its debt, sending its shares tumbling 70 percent to $0.83 compared with their $20 debut on the Amsterdam bourse last July.
* Shares of Carlyle Capital have lost about 78 percent of their value since Feb. 29 when it said it would retain fourth-quarter earnings and not pay a dividend to preserve the long-term value of shareholder's equity.
* Carlyle Group, whose managers own about 15 percent of Carlyle Capital, has $75 billion under management and has attracted a string of high-profile advisers including U.S. President George Bush in the early 1990s and former British Prime Minister John Major.
Sources: Reuters; Carlyle Capital
(www.carlylecapitalcorp.com/Company/item789.html)
(Writing by Jijo Jacob; Editing by David Cowell)
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