Deutsche Bank has arranged two finance facilities for vehicles managed by ACP Capital, totaling EUR 320m.
The facilities provide committed finance on two portfolios of asset-backed securities, corporate bonds and loans for up to five years. They allow the portfolios to be ramped up over 12 to 18 months. ACP will be able to capitalise on enhanced portfolio returns as well as significantly reducing its refinancing risk.
Eric Youngblood, Chief Financial Officer of ACP Capital said: “We are pleased to have made progress in the growth of ACP Mezzanine, and also to be working with Deutsche Bank for the second time on a portfolio leverage facility, having closed a similar facility in March for ACP Capital.”
These financing facilities are the latest in a series of portfolio finance trades Deutsche Bank has closed in the last 18 months. John Ford of Structured Credit Finance at Deutsche Bank said: “We offer committed finance and term funding across the full spectrum of financial assets. This means reliable finance for both liquid and illiquid portfolios as a manager’s business grows. The result is that we are seeing a high level of interest from both new fund managers and established managers setting up new funds. ”
The second facility for ACP Mezzanine signed on May 17th. ACP Capital, a Jersey based integrated finance provider and asset manager, acts as the management company for a number of specialist lending / investment vehicles and is AIM-listed in London.
For further information, please call:
Sarah Yates (44 20) 7547 2603
Press and Media Relations
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