Princess Private Equity Increases Credit Facility With Lloyds
March 18 2020 - 6:27AM
Dow Jones News
By Matteo Castia
Princess Private Equity Holding Ltd. said Wednesday that it has
agreed to extend and increase its senior revolving-credit facility
with Lloyds Banking Group PLC.
The investment holding group said it has increased its facility
to 80 million euros ($88.5 million) from the initial EUR50.0
million amount.
It added that the term of expiration has been extended to Dec.
13, 2024, from the originally agreed Dec. 14, 2020.
The company will still have to pay an arrangement fee of
EUR800,000.
Princess Private Equity said the facility will support
short-term funding needs and simultaneously maintain a high
investment level and a conservative balance sheet.
Shares at 0945 GMT were down 22 euro cents, or 2.9%, at 7.50
cents.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
March 18, 2020 06:12 ET (10:12 GMT)
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