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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