NB Private Equity Partners Ltd. (NBPE)

Sector:

Investment Firms

Index:

FTSE 250

 1,485.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 1,920.00
  • 52 Week Low: 1,300.00
  • Currency: UK Pounds
  • Shares Issued: 46.76m
  • Volume: 32,122
  • Market Cap: £694.40m

NB Private Equity enters new $200m credit facility

By Josh White

Date: Tuesday 24 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Closed-end private equity investment company NB Private Equity Partners announced entry into a new $200m (£154.56m) credit facility, or $250m including a $50m accordion, with Massachusetts Mutual Life Insurance Company (MassMutual) on Tuesday.
The London-listed firm said that was concurrent with the termination of its credit facility with JP Morgan Chase Bank.

It said the facility had a 10-year borrowing availability period, and an interest rate of L+275 basis points with a 1.0% L floor on drawn amounts.

Minimum utilisation of $60m would kick in 18 months after the closing date, with the facility having an undrawn spread of 55 basis points annually.

The company said it was secured by a security interest in the cash flows from NB's underlying investments.

Kroll Bond Rating Agency had assigned a rating of 'A -' to the new credit facility, and would review the credit rating annually over the life of the facility.

NB said Kroll's analysis of the credit rating considered the portfolio of private equity assets and asset coverage relative to the facility's size, the manager's track record and capabilities, the diversification of its underlying assets, its historic performance and cash flows, as well as overall liquidity and its capital position.

"I am pleased to announce the completion of this new credit facility which provides NBPE with long-term financing at an attractive cost of capital," said chairman William Maltby.

"This new facility lowers NBPE's borrowing costs and increases balance sheet security by providing NBPE the capital resources to continue to meet existing commitments as well as additional flexibility to make new investments as and when attractive opportunities arise."

Maltby said the board believed the terms and tenure of the facility were "extremely attractive", and addressed the firm's capital requirements for the long term.

"This is a continuation of actions by the board and the manager to deliver value to shareholders."

At 1109 GMT, shares in NB Private Equity Partners were down 0.13% at 1,183.46p.

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NBPE Market Data

Currency UK Pounds
Share Price 1,485.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 1,920.00
52 Week Low 1,300.00
Volume 32,122
Shares Issued 46.76m
Market Cap £694.40m

NBPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
72.01% above the market average72.01% above the market average72.01% above the market average72.01% above the market average72.01% above the market average
87.92% above the sector average87.92% above the sector average87.92% above the sector average87.92% above the sector average87.92% above the sector average
Price Trend
61.78% above the market average61.78% above the market average61.78% above the market average61.78% above the market average61.78% above the market average
58.68% above the sector average58.68% above the sector average58.68% above the sector average58.68% above the sector average58.68% above the sector average
Income
62.21% above the market average62.21% above the market average62.21% above the market average62.21% above the market average62.21% above the market average
71.30% above the sector average71.30% above the sector average71.30% above the sector average71.30% above the sector average71.30% above the sector average
Growth
90.65% above the market average90.65% above the market average90.65% above the market average90.65% above the market average90.65% above the market average
83.44% above the sector average83.44% above the sector average83.44% above the sector average83.44% above the sector average83.44% above the sector average

NBPE Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 20-Jan-22 22-Jul-21
Paid 28-Feb-22 31-Aug-21
Amount 47.00¢ 41.00¢

Trades for 01-Jul-2022

Time Volume / Share Price
16:35 1,356 @ 1,485.00p
16:17 162 @ 1,460.01p
16:03 1 @ 1,465.00p
15:49 1 @ 1,475.00p
15:44 27 @ 1,475.00p

NBPE Key Personnel

Chair William Maltby

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