HarbourVest englarges credit facility to $700 million

Chicago, Dec. 21 – HarbourVest Global Private Equity Ltd. increased its credit facility to $700 million, $100 million beyond the previous $600 million amount available, according to a press release.

The additional $100 million was provided by existing lender Credit Suisse.

There was no change to the key terms.

The loan has an evergreen structure with a five-year rolling term.

The loan can only be terminated if the lenders issued a five-year notice.

The enlarged facility further supports HarbourVest’s unfunded commitments.

Currently, Credit Suisse AG, London Branch has committed $400 million, and Mitsubishi UFJ Trust Banking Corp. through the New York Branch has retained its current commitment of $300 million.

Credit Suisse is the agent.

The facility was undrawn on Tuesday.

The closed-end investment company is based in St. Peter Port, Guernsey.

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