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ICG Enterprise Trust Plc: Financing Facility ...
ICG Enterprise Trust Plc: Financing Facility ....
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"text","content":"\n\n \n \n\n ICG Enterprise Trust Plc: Financing Facility Update\n\nICG Enterprise Trust agrees new €240m 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 €240m 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: LendersSMBC Bank International plcLloyds Bank Corporate Markets plcCapacity€240m (multicurrency)Term4 yearsMaturity date30 May 2027Upfront cost120bpsFee on undrawn amounts115bps per annumFee on drawn amountsCurrencyBase RateMarginEUREURIBOR300bps per annumGBPSONIA300bps per annumUSDSOFR320bps 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 £44.7m (audited), and at 26 May 2023 had net debt of £13.1m (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 2000Oliver Gardey, Head of Private Equity Fund Investments, ICG Colm Walsh, Managing Director, ICG Chris Hunt, Head of Shareholder Relations, ICGLivia Bridgman Baker, Shareholder Relations, ICG Media ...