Patria Private Equity Trust PLC on Monday said it has expanded its loan facility agreement, due to take effect on February 3, in order to support its growing portfolio of investment opportunities.

The Edinburgh, Scotland-based investment company said the loan facility has been increased to £400.0 million from £300.0 million, and has also been extended by a total of three years.

The facility is now due to mature on February 3, 2028, with options to extend for up to a further two years. It was drawn to a total amount of £90.1 million as of December 31.

Banco Santander SA and State Street Bank & Trust Co will join the syndicate of banks supporting the loan, alongside The Royal Bank of Scotland International Ltd’s London branch, Societe Generale SA’s London branch, and State Street Bank International GmbH.

NatWest Markets PLC will continue to act as facility agent and will now also act as security agent to the banking syndicate.

Chair Alan Devine said: ‘PPET continues to have a strong pipeline of investment opportunities to support portfolio growth in primary funds, fund secondaries and direct investments. The extended loan facility enables PPET’s manager to manage the company’s cash flows and, if need be, draw on the sums available to take advantage of new investment opportunities.

‘The board is delighted with the continued support from RBSI, Societe Generale and State Street, and welcomes Banco Santander to the syndicate.’

Shares in Patria Private Equity Trust were down 0.3% at 562.50 pence each in London on Monday morning.

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