J.P. Morgan Private Equity extends credit facility to January 2017

By Jennifer Chiou

New York, July 9 - J.P. Morgan Private Equity Ltd. announced that it has extended its multi-currency credit facility with Lloyds TSB Bank plc to January 2017.

The company said that the loan contains similar covenants to its existing $150 million multi-currency facility, which was to expire in May 2013.

According to a news release, key terms of the proposed facility include a rate of Libor/Euribor plus 280 basis points for a loan to value ratio of less than or equal to 10% and Libor/Euribor plus 330 bps for an LTV ratio of greater than 10%, both with no Libor floor.

The company said that the extended facility will provide it with increased financial flexibility.

J.P. Morgan Private Equity is a Guernsey-registered and incorporated closed-end investment company designed primarily to invest in the global private equity market.

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