|
HarbourVest Global Private Equity Ltd - FTSE 250-listed investment fund focused on private equity opportunities - Says it will now revert to a conventional fixed-term arrangement, from an evergreen term. Says a $400 million commitment from lender Credit Suisse AG and a $300 million commitment from Mitsubishi UFJ Trust Banking Corp will expire on January 12, 2028. The remaining $100 million from Guardians of New Zealand Superannuation will expire on August 15, 2027. The facility is currently undrawn.
‘The board and investment manager are confident that this facility, with $700 million secured for a full five years, and the remaining $100 million secured for over four and a half years, provides sufficient headroom for HVPE’s existing and planned commitments over the period. The board maintains a prudent approach to balance sheet management and regularly reviews HVPE’s credit facility arrangements,’ HarbourVest says.
Current stock price: 2,221.30 pence, up 0.5% on Friday
12-month change: down 19%
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
