REG - Pantheon Intl PLC - Extension of Credit Facility

Pantheon InternationalAnnouncement

Mon 07:02

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RNS Number : 8379E  Pantheon International PLC  27 October 2025

27 October 2025

 

For immediate release

The information contained in this announcement is restricted and is not for
publication, release or distribution in the United States of America, Canada,
Australia (other than to persons who are both wholesale clients and
professional or sophisticated investors in Australia), Japan, the Republic of
South Africa or any other jurisdiction where its release, publication or
distribution is or may be unlawful.

 

Pantheon International Plc

 

("PIN" or the "Company")

 

Extension of Credit Facility

 

As a result of its continuing prudent approach to the management of its own
balance sheet, and the confidence of its lenders in the performance of its
portfolio, PIN announces that it has agreed to extend its multi-currency
revolving credit facility ("Credit Facility"), which was due to expire in
October 2028, to October 2029. The Credit Facility continues to be sized at a
£400m equivalent commitment and retains the flexibility to be increased to
£700m under the existing structure, subject to the consent of the
participating lenders. This ensures extended liquidity coverage whilst
appropriately managing costs associated with the Credit Facility. The Credit
Facility commitments have been re-denominated as to US$402.30m and €115.10m
at signing to account for a strengthening in GBP against the USD and to match
more closely the principal currencies in which PIN's undrawn commitments are
denominated.

The Company has secured competitive terms in the market offering significant
finance cost savings over the 4-year tenor, with the financing subject to
market standard loan to value and liquidity covenants. A summary of PIN's
Financing Structure is shown below:

 

 Credit Facility                        Maturity      Drawn Margin                                               Commitment Fee
 $402.30m Tranche A1 Credit Facility    October 2029  Relevant Benchmark + 2.65%, reduced from 2.95% previously  0.65% payable on current undrawn and available balances, reduced from 0.80%
                                                                                                                 previously.

                                                                                                                 (subject to a range based on Credit Facility utilisation)
 €115.10m Tranche A2 Credit Facility    October 2029

 

PIN's portfolio, which had a weighted average age of 5.6 years as of 30
September 2025, remains cash generative. As of 24 October 2025, PIN had £34m
in cash, US$164m (£123m) of drawings under the Credit Facility and US$150m
(£113m) Private Placement debt, resulting in a net debt to NAV ratio of
9.0%.  The Company will continue to proactively manage its financing
arrangements to ensure alignment with its capital allocation objectives
whereby gearing is both a source of capital - when the Company is in a net
debt position - and a use when the Company is in a net cash position.

 

This announcement contains inside information.

Ends

 

LEI: 2138001B3CE5S5PEE928

 

For more information please visit PIN's website at
www.pantheon-international.com or contact:

 

Pantheon

Helen Steers MBE / Charlotte Morris / Vicki Bradley

Tel: +44 20 3356 1800

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LinkedIn: https://www.linkedin.com/company/pantheon-international-plc
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NOTES

 

PIN

PIN is a listed FTSE 250 private equity investment trust, overseen by
an independent Board of Directors and managed by Pantheon, one of the leading
private equity investment managers globally. PIN offers investors a liquid,
differentiated entry point to the excellent growth potential of global private
equity, with access to the primary, secondary and co-investment opportunities
of some of the best managers in the world. The Company has a track record of
NAV outperformance over the long term and manages risk strategically through
diversification and rigorous selection based on Pantheon's extensive
experience and international platform, and robust investment due diligence and
decision-making processes.

Pantheon

PIN is managed and advised by Pantheon, a specialist global private markets
investor. Pantheon has been at the forefront of private markets investing for
more than 40 years, earning a reputation for providing innovative solutions
covering the full lifecycle of investments, across private equity, real assets
and private credit. The firm has partnered with more than 740 clients, with
approximately $75.7bn in discretionary assets under management (as at 31 March
2025).

 

Important Information

A copy of this announcement will be available on the Company's website at
www.pantheon-international.com (http://www.pantheon-international.com) .
Neither the content of the Company's website, nor the content on any website
accessible from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless previously
published by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in the Company.

John Singer CBE

Chair, Pantheon International Plc

Broadwalk House, Southernhay West, Exeter, Devon EX1 1TS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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