NB Private Equity exercises $50 million accordion on credit facility

By Devika Patel

Knoxville, Tenn., March 26 – NB Private Equity Partners Ltd. has agreed to exercise the $50 million accordion feature of its $200 million credit facility with Massachusetts Mutual Life Insurance Co., according to a press release.

Following this exercise, the 10-year credit facility now provides up to $250 million. The loan bears interest at Libor plus 275 basis points with a 1% Libor floor.

NBPE is a closed-end private equity investment company with class A ordinary shares admitted to trading on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange.

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