REG - Patria Pvt Eq Trust. - Increase of Loan Facility

Patria Private Equity TrustAnnouncement

27/01/2025 07:00

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RNS Number : 6922U  Patria Private Equity Trust PLC  27 January 2025

Patria Private Equity Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

 

27 January 2025

Increase of Loan Facility

The Board of Patria Private Equity Trust plc ("the Company" or "PPET") is
pleased to announce an extension of its syndicated revolving multi-credit
facility agreement ("Loan Facility") which will take effect on 3 February
2025.  The Loan Facility has been extended by three years and the amount
available increased from £300.0 million to £400.0 million with Banco
Santander, S.A. and State Street Bank & Trust Company joining the
syndicate of banks as new lenders alongside current providers The Royal Bank
of Scotland International Limited (London Branch), Société Générale,
London Branch and State Street Bank International GMBH.  NatWest Markets plc
continues to act as facility agent and will now also act as security agent to
the syndicate of banks.

The Loan Facility now matures on 3 February 2028 (with options to extend for
up to a further two years) was drawn to a total amount of £90.1 million as at
31 December 2024.  The remaining undrawn balance of the Loan Facility at 31
December 2024 was £209.9 million, which will increase to £309.9 million.

The margin on the Loan Facility is 2.6%, and the commitment fee payable on
non-utilisation is 0.8% or 0.9% per annum, reducing depending upon
utilisation. An annual fee of 0.35% is also payable.

Alan Devine, the Chair of the Board, said "PPET continues to have a strong
pipeline of investment opportunities to support portfolio growth in primary
funds, fund secondaries and direct investments.  The extended Loan Facility
enables PPET's Manager to manage the Company's cash flows and, if need be,
draw on the sums available to take advantage of new investment
opportunities.  The Board is delighted with the continued support from RBSI,
Société Générale and State Street, and welcomes Banco Santander to the
syndicate."

 

For further information please contact:

 

 Patria Private Equity Trust plc  PPET.Board@patria.com
 Alan Devine (Chair)
 Alan Gauld (Lead Manager)

 Paul Evitt (Company Secretary)

 Investec Bank plc                +44 (0)20 7597 4000
 Lucy Lewis
 Tom Skinner
 Denis Flanagan

 SEC Newgate                      +44 (0)20 3757 6872
 Sally Walton

 

Notes:

 

This announcement is released by the Company and the information contained
within this announcement is deemed by the Company to constitute inside
information for the purposes of Article 7 of the UK version of the EU Market
Abuse Regulation (Regulation (EU) No.596/2014) which forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain.

 

Patria Private Equity Trust plc (Ticker: PPET) is an investment trust and its
shares are admitted to listing on the FCA's Official List and to trading on
the main market of the London Stock Exchange.

 

PPET provides investors with exposure to leading private equity funds and
private companies, mainly in Europe. It invests in private equity funds by
making primary commitments and secondary purchases, and it makes direct
investments into private companies. Its investment objective is to achieve
long-term total returns for investors and its policy is to maintain a broadly
diversified portfolio by country, industry sector, maturity and number of
underlying investments.

 

Patria Capital Partners LLP, a wholly owned subsidiary of Patria Investments
Limited, is PPET's alternative investment fund manager ('AIFM') and Manager
(the 'Investment Manager' or the 'Manager').

 

Further information on the Company can be found on its website at:
https://patriaprivateequitytrust.com/ (https://patriaprivateequitytrust.com/)

 

 

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