8th Oct 2020 09:50
(Alliance News) - HgCapital Trust PLC said on Thursday it has completed a GBP200 million multi-currency revolving credit facility.
HgCapital Trust is a listed vehicle for investing in unquoted software and service businesses managed by Hg.
FTSE 250-listed HgCapital Trust said the facility will be used to help ensure the future growth of HGT to fund investments, co-investments, and further commitments to Hg's funds.
The company said its net liquid resources available for future deployment are estimated to be GBP398 million, around 34% of the August 31 pro-forma net asset value of GBP1.16 billion. It noted the figures include the repayment of its previously-utilised GBP80 million bank facility and the potential use of the new GBP200 million facility.
HGT's outstanding commitments to invest in Hg transactions are around GBP759 million.
Shares in HgCapital Trust were trading 0.8% higher at 301.33 pence each in Thursday morning in London.
By Ife Taiwo; [email protected]
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