25th Aug 2022 09:19
Petershill Partners PLC - investment vehicle managed by Goldman Sachs Asset Management that invests in alternative asset managers - Places USD500.0 million in senior unsecured debt, via a US private placement with a group of institutional investors. The weighted average coupon of the new issuance is 5.7% and the weighted average tenor is 11.2 years. Says most of the proceeds will be used to retire its current outstanding USD350.0 million senior secured notes, and the remainder will be used for "general corporate purposes" as well as new acquisitions.
The notes have been issued by Delta Epsilon Delaware Inc, a wholly-owned subsidiary of the company, and are guaranteed by Petershill, it says.
Chair Naguib Kheraj comments: "This is an important transaction for the company as it enables Petershill Partners to improve the quality of its capital base while materially extending the duration of its funding profile and simplifying the company's financial reporting."
Current stock price: 224.50 pence
12-month change: down 36%
By Sophie Rose; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Petershill