8 Oct 2020 07:00
HgCapital Trust plc ("HGT") today announces the completion of a £200m multicurrency revolving credit facility ("the facility").
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The facility will be used to help ensure the future growth of HGT to fund investments, co-investments, and further commitments to Hg ("the Manager") funds.
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HGT's net liquid resources available for future deployment (including all announced transactions and the interim dividend payable in October 2020) are estimated to be £398 million (34% of the 31 August 2020 pro-forma NAV of £1.16 billion, including the increase in equity via tap equity issues over the third quarter of 2020). These figures include the repayment of the £80m bank facility previously utilised and the potential use of the further £200m agreed facility as detailed above.
HGT's outstanding commitments to invest in Hg transactions are approximately £759 million (65% of the 31 August 2020 pro-forma NAV).
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HGT was advised by Deloitte Debt & Capital Advisory.
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For further details:
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Hg
Laura Dixon +44 (0)20 8396 0930
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Brunswick
Samantha Chiene +44 (0)207 404 5959
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About HgCapital Trust plc
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HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services sector. The selection of new investments and creation of value in these businesses are managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.
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The contents of the HGT, Hg and Deloitte websites are not incorporated into, and do not form part of, this announcement.
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