abrdn Private Equity Opportunities Trust plc

Capital/Financing Update • Oct 10, 2022

National Storage Mechanism | Additional information

RNS Number : 2269C

abrdn Private Equity Opp Trst plc

10 October 2022

abrdn Private Equity Opportunities Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

10 October 2022

Increase of Loan Facility

The Board of abrdn Private Equity Opportunities Trust plc ("the Company") is pleased to announce an expansion of its syndicated multi-credit facility agreement ("Loan Facility"). The sums available to the Company under the Loan Facility have increased from £200m to £300m with The Royal Bank of Scotland International Limited joining as a lender and Natwest Markets Plc replacing Citibank Europe plc as Agent in the syndicate of banks providing the Loan Facility, alongside current providers Société Générale and State Street Bank International GmbH. 

The Loan Facility, which matures in December 2025, has been drawn to a total amount of £62.0m as at 30 September 2022. The remaining undrawn balance of the Loan Facility at 30 September 2022 was £138.0m, which has increased to £238.0m. The Margin on the Loan Facility is 1.625%, rising to a maximum of 2.0% depending on utilisation, and the commitment fee payable on non-utilisation is 0.7% or 0.8% per annum, reducing depending upon utilisation. An arrangement fee of 0.8% is also payable.

Alan Devine, the Company's Chair, said "This is an extremely positive result for the Company, particularly in the challenging economic conditions. The Board is delighted with the continued support from State Street Bank International and Société Générale and welcomes RBSI to the syndicate. The Board would like to formally thank Citi for its support since 2015. The Company continues to have a strong pipeline of investment opportunities in primary funds, secondaries and co-investments and the extended Loan Facility enables the Manager to take further advantage of this."

For further information please contact

Alan Gauld, Fund Manager (0131 528 4424)

abrdn

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