Credit facility renewed early
Summary by AI BETAClose X
(LSE: PEY/PEYS)
Partners Group Private Equity Limited
Credit facility renewed early
Partners Group Private Equity Limited ("PGPE Ltd" or the "Company") is pleased to announce the early renewal of its existing revolving credit facility ("Facility"), originally set to expire on 13 December 2026.
The Facility was renewed one year ahead of maturity to ensure uninterrupted financing on improved financial and covenant terms. The renewed multi-currency Facility now carries a four-year term, extending to November 2029.
Key highlights:
· The Facility size has been modestly increased from EUR 140 million to EUR 150 million, providing additional working capital headroom and enabling greater flexibility in capital allocation decisions
· The commitment fee has been reduced from 100 basis points to 80 basis points per annum, and the margin on drawn amounts lowered from 295-325 basis points to 270 basis points per annum over the relevant reference rate
· The Facility is provided by Lloyds Bank Corporate Markets plc, ING Bank N.V., London Branch and one other lender
The Company takes a conservative approach to balance sheet management, while aiming to maintain a high investment level at approximately 95% - 100%. The facility supports these objectives as well as providing the Company with the flexibility to manage short-term funding requirements and capital allocation decisions.
Ends.
About Partners Group Private Equity Limited
PGPE Ltd is an investment holding company founded in 1999 and domiciled in Guernsey. It invests in private equity direct investments. PGPE Ltd is managed in its investment activities by Partners Group, a global private markets investment management firm with over USD 174 billion in investment programs under management in private markets, of which USD 83 billion is in private equity. Partners Group itself is listed on the Swiss Stock Exchange (ticker: PGHN). PGPE Ltd aims to provide shareholders with long-term capital growth and an attractive dividend yield. PGPE Ltd is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro quote; PEYS for the Sterling quote).
Contacts
Partners Group Private Equity Limited:
pgpe-ltd@partnersgroup.com
www.partnersgroupprivateequitylimited.com
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Investor relations contact: Andreea Mateescu Phone: +41 41 784 66 73 E-mail: andreea.mateescu@partnersgroup.com
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Media relations contact: Jenny Blinch Phone: +41 41 784 65 26 E-mail: jenny.blinch@partnersgroup.com |
Registered Number: 35241 LEI: 54930038LU8RDPFFVJ57
Notes:
1. Note that references in this announcement to Partners Group Private Equity Limited have been abbreviated to "PGPE Ltd" or "the Company". References to Partners Group AG have been abbreviated to "Partners Group" or "the Investment Manager".
2. This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Partners Group Private Equity Limited. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein are not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
3. This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of PGPE Ltd's website nor the contents of any website accessible from hyperlinks on PGPE Ltd's website (or any other website) are incorporated into, or form part of, this announcement.
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