imported>Doug Williamson |
imported>Administrator |
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| A backstop credit facility is an interim borrowing facility supporting a transaction, financial instrument, or other credit facility. | | (ROE). A measure of how much return is received (or expected to be received) by equity investors compared to the equity investment made. Return is generally measured after all expenses, including taxation. |
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| :<span style="color:#4B0082">'''''Informa highly commended'''''</span>
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| :"With the [pandemic related event] postponements leaving the firm’s business model intrinsically threatened by the spread of COVID-19, its treasury team speedily arranged a £750m, 18-month backstop credit facility.
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| :As well as opening up access to enhanced liquidity, the deal was designed to provide the firm with some optionality during covenant amendment discussions with its US private placement investors...
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| :A subsequent £1bn equity placing further demonstrated that the group had a significant liquidity balance.
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| :It also allowed Informa to time access to bond markets later in the year when conditions improved and issue two bonds that allowed the repayment of all US private placement notes and the removal of all financial covenants from debt, pushing the nearest debt maturity out to July 2023."
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| :''ACT Deals of the Year Awards 2020 - Informa''
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| Also known as a ''backstop facility.''
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| == See also == | | == See also == |
| * [[Backstop]]
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| * [[Bridge facility]]
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| * [[Bridge to bond]]
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| * [[Bridging loan]]
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| * [[Equity]] | | * [[Equity]] |
| * [[Facility]]
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| * [[Financial covenant]]
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| * [[Financial instrument]]
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| * [[Interim]]
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| * [[Liquidity]]
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| * [[Notes]]
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| * [[Placing]]
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| * [[Private placement]]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:The_business_context]]
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| [[Category:Corporate_finance]]
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| [[Category:Investment]]
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| [[Category:Long_term_funding]]
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| [[Category:Compliance_and_audit]]
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| [[Category:Ethics]]
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| [[Category:Identify_and_assess_risks]]
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| [[Category:Manage_risks]]
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| [[Category:Risk_frameworks]]
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| [[Category:Risk_reporting]]
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| [[Category:Financial_products_and_markets]]
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