The syndication comprised 30 banks across North America, Europe, Asia, Middle East and North Africa. The facility was initially launched at US $300 million, but strong interest from new and existing lenders led to significant commitments of over $850 million, resulting in a total facility of US $500 million and no general syndication.
JP Morgan Chase and Dresdner Kleinwort were joint bookrunners.
Investcorp's Chief Operating Officer, Gary Long, said: "We are delighted with the support we have received from the banks who have partnered with us. Banks from across all four continents participated in the financing of this facility reflecting the breadth and depth of the relationships that Investcorp has built over the years and the strong commitment by the banking community to our growing business.
"The syndicated loan establishes a new source of accessible funding for the balance sheet and will be used to fund underwriting of multiple and concurrent acquisitions."
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Successful close of US $500 million syndicated revolving loan facility
- Bahrain: Sunday, December 17 - 2006 at 14:48
- PRESS RELEASE
Investcorp, the global investment group, announced that it has successfully closed a $500 million five-year syndicated revolving loan facility.
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About InvestcorpInvestcorp is a global investment group with offices in the Kingdom of Bahrain, New York and London. The firm has five lines of business: private equity, real estate investment, hedge funds, venture capital and Gulf growth capital. It was established in 1982 and now manages total investments in alternative assets of approximately $10 billion.
Issued on behalf of Investcorp by Hill & Knowlton.
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Deborah Botwood Smith on Tel: +44 20 7629 6600
Posted by Lara Lynn Golden, News EditorSunday, December 17 - 2006 at 14:48 UAE local time (GMT+4)
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This article was updated on Sun Jan 14 2007.
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