New US$100m Revolving Credit Facility

RNS Number : 3818G

Trian Investors 1 Limited

29 March 2022

 

29 March 2022

TRIAN INVESTORS 1 LIMITED
(the "Company")

New US$100 million Revolving Credit Facility

In order to enhance the ability of the Company to take advantage of strategic opportunities and/or prevailing valuation dislocations, on 28 March 2022, Trian Investors 1, L.P. (Incorporated) (the "Investment Partnership"), through which the Company invests, entered into a revolving credit facility (the "Credit Facility") with Bank of America, N.A., London Branch. The Credit Facility, which has a three-year term, enables the Investment Partnership to borrow an aggregate amount of up to US$100 million at an interest rate based on the secured overnight financing rate (SOFR), plus 1.35% per annum.  That portion of the Credit Facility which is not drawn will be subject to a commitment fee of 0.40% per annum.  In connection with establishing the new facility, the Investment Partnership terminated its prior credit facility with UBS Bank USA and is re-pledging its shares of Ferguson plc to the new facility as collateral. 

The Investment Partnership may use the Credit Facility from time to time for general corporate purposes, including borrowing to fund strategic investment opportunities, which the Investment Manager believes have potential to enhance the Company's returns on its equity.

LEI: 213800UQPHIQI5SPNG39

For further information, please contact:

Numis Securities Limited

(Joint corporate broker) 

[phone]

David Benda

Jefferies International Limited

(Joint corporate broker)

[phone]

Stuart Klein

Ocorian Administration (Guernsey) Limited
(Administrator and Company Secretary)
[phone]
Ian Smith

 

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