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Pantheon International PLC - private equity investment trust - Agrees a new £500 million equivalent multi-tranche, multi-currency revolving credit facility agreement, which replaces the existing £500 million equivalent credit facility. The new loan facility is split into a £400 million facility, expiring in October 2026 with an ongoing option to extend, by agreement, the maturity date by 364 days at a time; and a £100 million facility expiring in October 2024. Says it sought to ‘build a long-term, sustainable, more flexible, and diverse capital structure as part of this process, further strengthening the company’s balance sheet’. The structure permits the £400 million facility to be increased to £700 million, subject to the consent of participating lenders. Says the new loan facility was oversubscribed, with new lenders State Street Bank & Trust Co, RBS International PLC, Mizuho Bank Ltd and RBC Europe Ltd, joining the syndicate alongside two existing lenders Lloyds Bank Corporate Markets PLC and State Street Bank International GmbH. Credit Suisse AG’s London branch will no longer be a lender. Also, Pantheon says it has tendered 49.2 million shares at strike price of 305 pence. Current stock price: 303.00 pence, down 0.7% 12-month change: up 25% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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