Apax Global Alpha tweaks revolver as amend and extend trend grows

By Mike Turner
20 Jan 2021

Apax Global Alpha, a UK investment trust, has amended the terms on its €140m revolving credit facility. The deal reflects what is expected to be a big theme in the loan market this year of borrowers tinkering with existing facilities rather than doing full refinancings.

The deal, arranged by Credit Suisse, was due to mature in November. The deal is now a perpetual arrangement, though either party can terminate it by giving two years' notice. 

Amend and extend exercises, rather than full refinancings, will become many borrowers' preferred approach to loans this year, according ...

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