The self-arranged financing was structured as a dual tranche Revolving Credit Facility and Term Loan.
The new 5-year facility was launched in February as a $200m deal and was upsized to $243m at closing due to oversubscription. 15 of Investcorp's core relationship banks, principally from Europe, Japan and the US, participated in the deal.
Rishi Kapoor, Investcorp Chief Financial Officer, commented:
"Against the backdrop of the current global credit crisis, an over-subscribed deal closing at original price targets is a significant result. This reflects the high value placed by our lending banks on their overall business relationship with Investcorp, as well as our proactive approach towards providing best-in-class disclosure to the credit community. It is also recognition by the banks of our continued commitment towards maintaining a solid balance sheet, with a strong investment grade rating."
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Investcorp secures $243m 5-year debt facility
- Bahrain: Tuesday, April 29 - 2008 at 08:34
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Investcorp, a leading global provider and manager of alternative investment products, today announced that it has secured a $243m medium term financing facility for its own corporate balance sheet.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, April 29 - 2008 at 08:34 UAE local time (GMT+4)
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About Investcorp
Founded in 1982, Investcorp is a leading provider and manager of alternative investment products with more than $15bn in assets under management as of December 31, 2007. The firm, which has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP), has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf growth capital.
Investcorp's current private equity investments include: Berlin Packaging, a leading supplier of custom and stock rigid packaging in the USA; Icopal, the world's leading producer of roofing and waterproofing membranes; Moody International, a global provider of technical and inspection services and management systems; and Armacell, a leading global manufacturer of engineered foams. Past private equity investments by Investcorp include: Tiffany & Co., Gucci, Prime Equipment, Carter's, Simmons, Leica, Jostens and APCOA.
Issued on behalf of Investcorp by Hill & Knowlton.
Investor Relations:
Investcorp (Bahrain)
Jonathan Minor
+973 17 532 000
Investcorp (Bahrain)
Firas El Amine
+973 1753 2000
Hill and Knowlton
Maheen Ali
+973 (17) 533 532
Founded in 1982, Investcorp is a leading provider and manager of alternative investment products with more than $15bn in assets under management as of December 31, 2007. The firm, which has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP), has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf growth capital.
Investcorp's current private equity investments include: Berlin Packaging, a leading supplier of custom and stock rigid packaging in the USA; Icopal, the world's leading producer of roofing and waterproofing membranes; Moody International, a global provider of technical and inspection services and management systems; and Armacell, a leading global manufacturer of engineered foams. Past private equity investments by Investcorp include: Tiffany & Co., Gucci, Prime Equipment, Carter's, Simmons, Leica, Jostens and APCOA.
Issued on behalf of Investcorp by Hill & Knowlton.
Investor Relations:
Investcorp (Bahrain)
Jonathan Minor
+973 17 532 000
Investcorp (Bahrain)
Firas El Amine
+973 1753 2000
Hill and Knowlton
Maheen Ali
+973 (17) 533 532
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