Pantheon International PLC Additional Bank Loan Facility Agreement (2196N)

TIDMPIN

RNS Number : 2196N

Pantheon International PLC

21 October 2016

21 October 2016

Pantheon International Plc

ADDITIONAL BANK LOAN FACILITY AGREEMENT

Pantheon International Plc ("PIP" or "the Company"), an investment trust that invests in private equity funds globally, today announces that it has agreed an additional multi-currency revolving credit facility agreement ("Loan Facility") of GBP50m. The Loan Facility is an extension to the current 4-year facility that is in place until November 2018. The existing facility has been denominated to US$100m and EUR46m, equivalent to GBP116m as at 31(st) August 2016, and remains fully undrawn. The additional Loan Facility, arranged by the Royal Bank of Scotland plc and Lloyds Banking Group plc, will be redenominated to US dollars and euros in line with the existing facility, and also has a maturity date of November 2018.

PIP's mature portfolio, with a weighted average fund age of approximately 7.3 years, is in a cash generative phase. The Company expects to finance its investments and to meet its unfunded commitments principally from internally generated cash resources.

As at 31(st) August 2016, PIP had cash balances of GBP135m. Therefore, based on current exchange rates, PIP's total available liquid financial resources, taking into account the terms of the new Loan Facility, and the existing facility and cash balances as at 31(st) August 2016, are equivalent to GBP301m.

The extended loan facility gives additional reassurance that the Company has the ability to finance its unfunded commitments in the future.

Ends

NOTES

PIP

PIP is a London quoted investment trust, managed by Pantheon Ventures (UK) LLP ("Pantheon"), a leading global private equity fund investor, investing in both primary funds and secondary transactions, and from time to time capitalising further on its fund investment activities by acquiring direct holdings in unquoted companies, usually either where a vendor is seeking to sell a combined portfolio of fund interests and direct holdings or where there is a private equity manager, well known to Pantheon, investing on substantially the same terms. With investments in private equity funds, covering multiple private equity strategies ranging from investments in late stage buyouts to early stage technology, PIP enables individuals as well as institutions to gain access to a substantial portfolio of unquoted companies in the USA, the UK, Continental Europe and Asia, within funds managed by experienced private equity managers.

For more information please visit PIP's website at www.piplc.com or contact:

Andrew Lebus or Vicki Bradley

Pantheon

020 3356 1800

This information is provided by RNS

The company news service from the London Stock Exchange

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October 21, 2016 11:19 ET (15:19 GMT)