Financial Resources
In December 2007, HVPE secured a multi-currency revolving credit facility through to 4 December 2014.
Key features
- $500 million facility size
- $96 million drawn at 31 July 2010 ($4 million held in cash)
- $372 million available at 31 July 2010 based on the most restrictive bank covenants
- Lender is Bank of Scotland, now part of Lloyds Banking Group plc
- Additional terms
- 40 basis points annually on undrawn line
- Borrowing at LIBOR plus 150 basis points
- Key Covenants
- Asset Test Ratio: Company indebtedness limited to 40% of assets, with the value of the assets subject to certain diversification tests
- Non-Financial Covenants: Limitations restrict HVPE's ability to, among other things, make unduly concentrated commitments to funds, incur additional indebtedness or liens above the facility level, pay dividends above certain levels, or merge, consolidate, or substantially change its business without bank approval.
HVPE Resources Relative to Commitments as at 31 Jul 2010
- Of HVPE's total commitments of $554 million, 73% ($407 million) have been allocated to underlying partnerships (including all Direct and Secondary commitments) and 27% ($148 million) have not been allocated.
- Total resources of $1,198 million (including cash, available credit facility and NAV of investments) represent 216% of commitments.
- Liquid resources (cash plus available credit facility) equal $376 million.
- Liquid resources represent 92% of allocated commitments and 68% of total commitments.
Share Price
05 September 2010
LSE
$5.53
0.20c 3.62%
EURONEXT
$5.00
0.00c 0.00%
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Base Currency : U.S. Dollars
ISIN : GG00B28XHD63
Bloomberg : HVPE NA
Reuters : HVPE.AS
Common Code : 03208187
Amsterdam Security Code : 612956
Class A ordinary shares : 83,000,000
ISIN : GG00B28XHD63
Bloomberg : HVPE NA
Reuters : HVPE.AS
Common Code : 03208187
Amsterdam Security Code : 612956
Class A ordinary shares : 83,000,000
