REG - Apax Global Alpha Ld - Increase to the Revolving Credit Facility

Apax Global AlphaAnnouncement

06/05/2022 07:00

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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 €140 million to €250
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 (mailto: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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