Pantheon Infrastructure PLC Revolving Credit Facility (8725B)
June 07 2023 - 1:00AM
UK Regulatory
TIDMPINT
RNS Number : 8725B
Pantheon Infrastructure PLC
07 June 2023
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This Announcement has been determined to contain inside
information.
PANTHEON INFRASTRUCTURE PLC
Revolving Credit Facility
7 June 2023
The Board of Pantheon Infrastructure PLC ("PINT" or the
"Company"), the listed global infrastructure fund, is pleased to
announce that the Company has agreed a GBP52.5 million increase to
its existing GBP62.5 million multicurrency revolving credit
facility ("the Loan Facility"), bringing the total to GBP115
million. The increase in the Loan Facility provides the Company
with additional liquidity to support further investment in
high-quality infrastructure assets from PINT's near-term investment
pipeline. The Loan Facility is currently undrawn.
As part of the increase the Company has sought to diversify the
lender group through the introduction of The Royal Bank of Scotland
International Limited ("RBSI") alongside existing lender, Lloyds
Bank Corporate Markets plc ("Lloyds Bank"). The Company may request
further increases to the Loan Facility, subject to the lenders'
approval and the Company's borrowing policy, through a GBP185
million uncommitted accordion feature.
The Loan Facility terms have remained broadly unchanged and the
Company has been able to maintain pricing at existing levels as
part of the increase, with PINT paying an initial margin of 2.85%
per annum over the relevant currency benchmark rate or compounded
reference rate on drawn amounts under the Loan Facility, reducing
to 2.65% per annum once certain expansion thresholds have been met.
The Loan Facility expiry date remains as 19 December 2025 but can
be extended through an uncommitted extension option, subject to
lenders' consent.
Richard Sem, Partner at Pantheon, PINT's investment manager,
commented:
"We welcome another distinguished financial institution to the
Loan Facility, reflecting the high quality investment portfolio and
credit quality of PINT. The increased capacity will allow PINT to
execute on near-term opportunities from a strong pipeline of
attractive infrastructure assets as we continue building out our
diversified portfolio."
Legal Entity Identifier (LEI) 213800CKJXQX64XMRK69
For further information, contact:
Pantheon Ventures (UK) LLP +44 (0) 20 3356 1800
Investment Manager pint@pantheon.com
Richard Sem, Partner
Ben Perkins, Principal
Harriet Alexander, Vice President
Investec Bank plc
Sole Sponsor, Financial Adviser and Bookrunner
Tom Skinner (Corporate Broking)
Lucy Lewis, Denis Flanagan (Corporate
Finance)
Will Barnett, Neil Brierley, Alice Douglas,
Jack Kershaw (Sales) +44 (0) 20 7597 4000
TB Cardew +44 (0) 20 7930 0777
Public relations advisor pint@tbcardew.com
Ed Orlebar +44 (0)7738 724 630
Tania Wild +44 (0)7425 536 903
Henry Crane +44 (0)7918 207157
Notes to editors
Pantheon Infrastructure PLC (PINT)
Pantheon Infrastructure PLC is a closed-ended investment company
and an approved UK Investment Trust, listed on the Premium Segment
of the London Stock Exchange's Main Market. Its Ordinary Shares
trade under the ticker 'PINT'. The independent Board of Directors
of PINT have appointed Pantheon, one of the leading private markets
investment managers globally, as investment manager. PINT aims to
provide exposure to a global, diversified portfolio of high-quality
infrastructure assets through building a portfolio of direct
co-investments in infrastructure assets with strong defensive
characteristics, typically benefitting from contracted cash flows,
inflation protection and conservative leverage profiles. Further
details can be found at www.pantheoninfrastructure.com .
Pantheon
Pantheon is a leading global private equity, infrastructure
& real assets, private debt and real estate investor with 40
years' experience sourcing and executing private market investment
opportunities on behalf of clients. Pantheon has US$92.8 billion in
assets under management and advice (as at 31 December 2022) and
employs over 460 staff, including around 140 investment
professionals, across offices in London, San Francisco, New York,
Chicago, Hong Kong, Seoul, Bogotá, Tokyo, Dublin, Berlin and a
presence in Tel Aviv. Further details can be found at
www.pantheon.com .
ENDS
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