Venture Announces New Debt Facility
Venture has put in place a new £325 million debt package solely underwritten and arranged by The Royal Bank of Scotland Group plc. This new facility replaces Venture's existing US$295 million syndicated debt facility. It is anticipated that the new facility will be syndicated in early autumn.
The increase in facility size reflects the successful growth of Venture's business over the last three years and will be used to help finance the ongoing development of Venture's existing asset base as well as potential future acquisitions.
Marie-Louise Clayton, Finance Director, said
"We are pleased to announce this increased facility, arranged through our existing lead bankers, RBS. Together with the recently announced privately placed convertible, this gives us a secure and long-term funding base from which to continue our growth. We appreciate the support from our existing banking syndicate and look forward to their participation in the syndication of Venture's new facility."