Extension of Credit Facility
Summary by AI BETAClose X
27 October 2025
For immediate release
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, Canada, Australia (other than to persons who are both wholesale clients and professional or sophisticated investors in Australia), Japan, the Republic of South Africa or any other jurisdiction where its release, publication or distribution is or may be unlawful.
Pantheon International Plc
("PIN" or the "Company")
Extension of Credit Facility
As a result of its continuing prudent approach to the management of its own balance sheet, and the confidence of its lenders in the performance of its portfolio, PIN announces that it has agreed to extend its multi-currency revolving credit facility ("Credit Facility"), which was due to expire in October 2028, to October 2029. The Credit Facility continues to be sized at a £400m equivalent commitment and retains the flexibility to be increased to £700m under the existing structure, subject to the consent of the participating lenders. This ensures extended liquidity coverage whilst appropriately managing costs associated with the Credit Facility. The Credit Facility commitments have been re-denominated as to US$402.30m and €115.10m at signing to account for a strengthening in GBP against the USD and to match more closely the principal currencies in which PIN's undrawn commitments are denominated.
The Company has secured competitive terms in the market offering significant finance cost savings over the 4-year tenor, with the financing subject to market standard loan to value and liquidity covenants. A summary of PIN's Financing Structure is shown below:
|
Credit Facility |
Maturity |
Drawn Margin |
Commitment Fee |
|
$402.30m Tranche A1 Credit Facility |
October 2029 |
Relevant Benchmark + 2.65%, reduced from 2.95% previously |
0.65% payable on current undrawn and available balances, reduced from 0.80% previously. (subject to a range based on Credit Facility utilisation) |
|
€115.10m Tranche A2 Credit Facility |
October 2029 |
PIN's portfolio, which had a weighted average age of 5.6 years as of 30 September 2025, remains cash generative. As of 24 October 2025, PIN had £34m in cash, US$164m (£123m) of drawings under the Credit Facility and US$150m (£113m) Private Placement debt, resulting in a net debt to NAV ratio of 9.0%. The Company will continue to proactively manage its financing arrangements to ensure alignment with its capital allocation objectives whereby gearing is both a source of capital - when the Company is in a net debt position - and a use when the Company is in a net cash position.
This announcement contains inside information.
Ends
LEI: 2138001B3CE5S5PEE928
For more information please visit PIN's website at www.pantheon-international.com or contact:
Pantheon
Helen Steers MBE / Charlotte Morris / Vicki Bradley
Tel: +44 20 3356 1800
Follow us on LinkedIn: https://www.linkedin.com/company/pantheon-international-plc
NOTES
PIN
PIN is a listed FTSE 250 private equity investment trust, overseen by an independent Board of Directors and managed by Pantheon, one of the leading private equity investment managers globally. PIN offers investors a liquid, differentiated entry point to the excellent growth potential of global private equity, with access to the primary, secondary and co-investment opportunities of some of the best managers in the world. The Company has a track record of NAV outperformance over the long term and manages risk strategically through diversification and rigorous selection based on Pantheon's extensive experience and international platform, and robust investment due diligence and decision-making processes.
Pantheon
PIN is managed and advised by Pantheon, a specialist global private markets investor. Pantheon has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, across private equity, real assets and private credit. The firm has partnered with more than 740 clients, with approximately $75.7bn in discretionary assets under management (as at 31 March 2025).
Important Information
A copy of this announcement will be available on the Company's website at www.pantheon-international.com. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
John Singer CBE
Chair, Pantheon International Plc
Broadwalk House, Southernhay West, Exeter, Devon EX1 1TS
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