Private Equity Holding AG and Swiss Life agreed to extend the amendment to the credit facility in the amount of CHF 325 million which was originally due to expire on March 10, 2003. Thereby the liquidity of Private Equity Holding AG is secured. Furthermore, it provides the company with the necessary time to find a solution for its financing needs which is in the interest of the company and its shareholders.
Besides comprehensive financing solutions, alternative options pursued include a refinancing of the credit facility of Swiss Life, a securitization of investments or the sale of portfolio participations with the objective to achieve a better alignment of the maturity of the financing solution with the long-term nature of private equity investments. The extension of the amendment to the credit facility allows Private Equity Holding AG to evaluate the existing options with the appropriate diligence. By means of the extension of the amendment to the credit facility the liquidity of Private Equity Holding AG is secured.
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Private Equity Holding AG (SWX: PEHN), managed by Swiss Life Private Equity Partners, offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio. As of December 31, 2002, the company held fund investments in 85 funds and direct investments in 23 companies. Contact: Eva Kalias, Investor Relations and Communications (phone +41 41 726 79 80).
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