ACP Mezzanine announces €150m Leverage Facility from Deutsche Bank
17 May 2007
ACP Mezzanine is pleased to announce that it has raised a committed leverage facility of €150m. The facility is provided by the Structured Credit Finance desk at Deutsche Bank, part of its Global Finance and FX business.
The facility has been entered into on improved terms over the Company’s existing leverage facilities, benefiting from lower financing costs and extending the maturity from two years to five years. This in turn is expected to provide enhanced portfolio returns over the existing facility as well as a significant reduction in refinancing risk. In addition, the new facility also provides leverage on an unrated portion of the portfolio, which is in line with the nature of the Company’s lending business.
Commenting, Eric Youngblood, Chief Financial Officer of ACP Capital (parent of the Company’s investment manager) said:
“We are pleased to have made progress in the growth of ACP Mezzanine, and also to be working with Deutsche Bank for the second time on a portfolio leverage facility, having closed a similar facility in March for ACP Capital.”
Enquiries to:
| Collins Stewart Europe Limited (Nominated Advisor to the Company), Simon Atkinson: |
+44 (0)20 7523 8350 |