APAX Apax Global Alpha Limited

TIDMAPAX

RNS Number : 5305K

Apax Global Alpha Limited

06 May 2022

(LSE: APAX)

Apax Global Alpha Limited

Increase to the Revolving Credit Facility

AGA is pleased to announce that it has agreed an increase to the multicurrency evergreen revolving credit facility ("RCF") agreement with Credit Suisse AG, London Branch.

The amended RCF increases the funds available from EUR140 million to EUR250 million reflecting the increased NAV and the greater proportion of the invested portfolio in private equity. The margin remains unchanged at 230 bps (over the respective risk free rate or Euribor depending on currency drawn). The RCF remains undrawn as at today's date.

The Revolving Credit Facility will be used in accordance with the Company's investment policy to finance or refinance its general corporate purposes, including short-term financing of investments such as the drawdown on commitments to Apax Funds .

Contact details

Lorraine Rees

Investor Relations - AGA

E: lorraine.rees@apax.com

Notes

 
  1.   Note that references in this announcement to Apax Global 
        Alpha Limited have been abbreviated to "AGA" or "the Company". 
        References to Apax Partners LLP have been abbreviated to 
        "Apax Partners" or "the Investment Adviser" 
 2.    Please be advised that this announcement may contain inside 
        information as stipulated under the Market Abuse Regulations 
        (EU) NO. 596/2014 ("MAR") 
 3.    This announcement is not for release, publication or distribution, 
        directly or indirectly, in whole or in part, into or within 
        the United States or to "US persons" (as defined in Regulation 
        S under the United States Securities Act of 1933, as amended 
        (the "Securities Act")) or into or within Australia, Canada, 
        South Africa or Japan. Recipients of this announcement 
        in jurisdictions outside the UK should inform themselves 
        about and observe any applicable legal requirements in 
        their jurisdictions. In particular, the distribution of 
        the announcement may be restricted by law in certain jurisdictions 
 4.    The information presented herein is not an offer for sale 
        within the United States of any equity shares or other 
        securities of Apax Global Alpha Limited ("AGA"). AGA has 
        not been and will not be registered under the US Investment 
        Company Act of 1940, as amended (the "Investment Company 
        Act"). In addition, AGA's shares (the "Shares") have not 
        been and will not be registered under the Securities Act 
        or any other applicable law of the United States. Consequently, 
        the Shares may not be offered or sold or otherwise transferred 
        within the United States, or to, or for the account or 
        benefit of, US Persons, except pursuant to an exemption 
        from the registration requirements of the Securities Act 
        and under circumstances which will not require AGA to register 
        under the Investment Company Act. No public offering of 
        the Shares is being made in the United States 
 5.    This announcement may include forward-looking statements. 
        The words "expect", "anticipate", "intends", "plan", "estimate", 
        "aim", "forecast", "project" and similar expressions (or 
        their negative) identify certain of these forward-looking 
        statements. These forward-looking statements are statements 
        regarding AGA's intentions, beliefs or current expectations 
        concerning, among other things, AGA's results of operations, 
        financial condition, liquidity, prospects, growth and strategies. 
        The forward-looking statements in this presentation are 
        based on numerous assumptions regarding AGA's present and 
        future business strategies and the environment in which 
        AGA will operate in the future. Forward-looking statements 
        involve inherent known and unknown risks, uncertainties 
        and contingencies because they relate to events and depend 
        on circumstances that may or may not occur in the future 
        and may cause the actual results, performance or achievements 
        of AGA to be materially different from those expressed 
        or implied by such forward looking statements. Many of 
        these risks and uncertainties relate to factors that are 
        beyond AGA's ability to control or estimate precisely, 
        such as future market conditions, currency fluctuations, 
        the behaviour of other market participants, the actions 
        of regulators and other factors such as AGA's ability to 
        continue to obtain financing to meet its liquidity needs, 
        changes in the political, social and regulatory framework 
        in which AGA operates or in economic or technological trends 
        or conditions. Past performance should not be taken as 
        an indication or guarantee of future results, and no representation 
        or warranty, express or implied, is made regarding future 
        performance. AGA expressly disclaims any obligation or 
        undertaking to release any updates or revisions to these 
        forward-looking statements to reflect any change in AGA's 
        expectations with regard thereto or any change in events, 
        conditions or circumstances on which any statement is based 
        after the date of this announcement, or to update or to 
        keep current any other information contained in this announcement. 
        Accordingly, undue reliance should not be placed on the 
        forward-looking statements, which speak only as of the 
        date of this announcement. 
 

About Apax Global Alpha Limited

AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.

The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners' Private Equity activities.

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.

About Apax Partners LLP

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

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May 06, 2022 02:01 ET (06:01 GMT)

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