Electra refinances on better terms

Electra Private Equity, the investment trust that invests in private equity ventures, has more firepower at its disposal after completing a refinancing of its existing multi-currency revolving credit facility.The size of the facility has been increased from £185m to £195m. The duration of the loan term has been extended from January 2013 to June 2016.Colette Bowe, Chairman of Electra, said: "We place much value on our relationships with lenders, and the ability to secure a refinancing of our debt facility in such a volatile economic environment and on better terms than previously is a resounding endorsement of Electra's strong balance sheet and the quality and experience of the Electra Partners team."The share price of Electra rose 19.5p to 1413p in early trading on Monday. --jh