Revolving Credit Facility

Pantheon Infrastructure PLC

07 June 2023

 

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This Announcement has been determined to contain inside information.

PANTHEON INFRASTRUCTURE PLC

Revolving Credit Facility

7 June 2023

The Board of Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global infrastructure fund, is pleased to announce that the Company has agreed a £52.5 million increase to its existing £62.5 million multicurrency revolving credit facility ("the Loan Facility"), bringing the total to £115 million. The increase in the Loan Facility provides the Company with additional liquidity to support further investment in high-quality infrastructure assets from PINT's near-term investment pipeline. The Loan Facility is currently undrawn.

As part of the increase the Company has sought to diversify the lender group through the introduction of The Royal Bank of Scotland International Limited ("RBSI") alongside existing lender, Lloyds Bank Corporate Markets plc ("Lloyds Bank"). The Company may request further increases to the Loan Facility, subject to the lenders' approval and the Company's borrowing policy, through a £185 million uncommitted accordion feature.

The Loan Facility terms have remained broadly unchanged and the Company has been able to maintain pricing at existing levels as part of the increase, with PINT paying an initial margin of 2.85% per annum over the relevant currency benchmark rate or compounded reference rate on drawn amounts under the Loan Facility, reducing to 2.65% per annum once certain expansion thresholds have been met. The Loan Facility expiry date remains as 19 December 2025 but can be extended through an uncommitted extension option, subject to lenders' consent.

Richard Sem, Partner at Pantheon, PINT's investment manager, commented:

"We welcome another distinguished financial institution to the Loan Facility, reflecting the high quality investment portfolio and credit quality of PINT. The increased capacity will allow PINT to execute on near-term opportunities from a strong pipeline of attractive infrastructure assets as we continue building out our diversified portfolio."

Legal Entity Identifier (LEI)

213800CKJXQX64XMRK69

For further information, contact: 

Pantheon Ventures (UK) LLP Investment Manager Richard Sem, Partner Ben Perkins, Principal Harriet Alexander, Vice President	[phone] [e-mail]
Investec Bank plc Sole Sponsor, Financial Adviser and Bookrunner Tom Skinner (Corporate Broking) Lucy Lewis, Denis Flanagan (Corporate Finance) Will Barnett, Neil Brierley, Alice Douglas, Jack Kershaw (Sales)	[phone]
TB Cardew Public relations advisor Ed Orlebar Tania Wild Henry Crane	[phone] [e-mail] [phone] [phone] [phone]

Notes to editors

Pantheon Infrastructure PLC (PINT)

Pantheon Infrastructure PLC is a closed-ended investment company and an approved UK Investment Trust, listed on the Premium Segment of the London Stock Exchange's Main Market. Its Ordinary Shares trade under the ticker 'PINT'. The independent Board of Directors of PINT have appointed Pantheon, one of the leading private markets investment managers globally, as investment manager. PINT aims to provide exposure to a global, diversified portfolio of high-quality infrastructure assets through building a portfolio of direct co-investments in infrastructure assets with strong defensive characteristics, typically benefitting from contracted cash flows, inflation protection and conservative leverage profiles. Further details can be found at www.pantheoninfrastructure.com.

Pantheon

Pantheon is a leading global private equity, infrastructure & real assets, private debt and real estate investor with 40 years' experience sourcing and executing private market investment opportunities on behalf of clients. Pantheon has US$92.8 billion in assets under management and advice (as at 31 December 2022) and employs over 460 staff, including around 140 investment professionals, across offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul, Bogotá, Tokyo, Dublin, Berlin and a presence in Tel Aviv. Further details can be found at www.pantheon.com.

ENDS

 

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