LONDON (ShareCast) - (Sharecast News) - Investment company HarbourVest Global Private Equity said it had secured a new $600m multi-currency credit facility with Credit Suisse AG and Mitsubishi UFJ Trust Banking Corporation.
The lenders will provide $300m each. The new facility is structured as a five-year evergreen with a two-year initial no-notice provision, giving a guaranteed initial term of seven years.

HVPE will pay a commitment fee to Credit Suisse and Mitsubishi on the undrawn facility at a blended rate of 95 basis points, down from the previous 115 basis points. The LIBOR margin has also been cut to 250 basis points from 275 for borrowings of less than $300m, with an additional 40 basis points payable on borrowings over that amount.

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