ICG Enterprise Trust Icg Enterprise Trust Plc: Financing Facility Update
01 Junio 2023 - 1:00AM
UK Regulatory
TIDMICGT
ICG Enterprise Trust agrees new EUR240m revolving credit
facility
ICG Enterprise Trust plc ('ICGT') is pleased to announce that it
has signed a new revolving credit facility ('RCF') which will be
effective from 31 May 2023. This RCF has replaced the previous
EUR240m facility, and extends the maturity of ICGT's financing
facility by one year, through to 30 May 2027.
The key terms of the new RCF are included below:
Lenders SMBC Bank International plc
Lloyds Bank Corporate Markets plc
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Capacity EUR240m (multicurrency)
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Term 4 years
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Maturity date 30 May 2027
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Upfront cost 120bps
---------------------- --------------------------------------
Fee on undrawn amounts 115bps per annum
---------------------- --------------------------------------
Fee on drawn amounts Currency Base Rate Margin
---------------------- --------- --------- ----------------
EUR EURIBOR 300bps per annum
---------------------- --------- --------- ----------------
GBP SONIA 300bps per annum
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USD SOFR 320bps per annum
---------------------- --------- --------- ----------------
ICGT's purpose for using the facility remains unchanged: the RCF
will be used to finance short term fluctuations in working capital.
At 31 January 2023, ICGT had net debt of GBP44.7m (audited), and at
26 May 2023 had net debt of GBP13.1m (unaudited).
Jane Tufnell, Chair of ICG Enterprise Trust, commented:
"We are pleased to have agreed this facility and to broaden our
financing base with two new lending partners. The agreement of this
RCF reinforces our strong balance sheet, and supports ICG
Enterprise Trust's ability to continue to execute on our investment
pipeline and to deliver for our shareholders."
Enquiries
Analyst / Investor enquiries +44 (0) 20 3545 2000
Oliver Gardey, Head of Private Equity Fund Investments, ICG
Colm Walsh, Managing Director, ICG
Chris Hunt, Head of Shareholder Relations, ICG
Livia Bridgman Baker, Shareholder Relations, ICG
Media +44 (0) 20 3545 1395
Clare Glynn, Corporate Communications, ICG
Website www.icg-enterprise.co.uk
About ICG Enterprise Trust
ICG Enterprise Trust plc ('ICGT') is a leading listed private
equity investor focused on creating long-term growth by delivering
consistently strong returns through selectively investing in
profitable, cash-generative private companies, primarily in Europe
and the US, while offering the added benefit to shareholders of
daily liquidity.
ICGT invests in companies directly as well as through funds
managed by Intermediate Capital Group plc ('ICG') and other leading
private equity managers who focus on creating long-term value and
building sustainable growth through active management and strategic
change.
We have a long track record of delivering strong returns through
a flexible mandate and selective approach that strikes the right
balance between concentration and diversification, risk and
reward
Disclaimer
The information contained herein does not constitute an offer to
sell, or the solicitation of an offer to acquire or subscribe for,
any securities in any jurisdiction where such an offer or
solicitation is unlawful or would impose any unfulfilled
registration, qualification, publication or approval requirements
on ICG Enterprise Trust PLC (the "Company") or its affiliates or
agents. Equity securities in the Company have not been and will not
be registered under the applicable securities laws of the United
States, Australia, Canada, Japan or South Africa (each an "Excluded
Jurisdiction"). The equity securities in the Company referred to
herein and on the pages that follow may not be offered or sold
within an Excluded Jurisdiction, or to any U.S. person ("U.S.
Person") as defined in Regulation S under the U.S. Securities Act
of 1933, as amended (the "U.S. Securities Act"), or to any
national, resident or citizen of an Excluded Jurisdiction.
The information on the pages herein may contain forward looking
statements. Any statement other than a statement of historical fact
is a forward looking statement. Actual results may differ
materially from those expressed or implied by any forward looking
statement. The Company does not undertake any obligation to update
or revise any forward looking statements. You should not place
undue reliance on any forward looking statement, which speaks only
as of the date of its issuance.
(END) Dow Jones Newswires
June 01, 2023 02:00 ET (06:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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