Citi Private Bank and Lexington Partners Close on a $1.025 Billion Subscription Commitment Facility
28 Mar 2014
Citi Announcement
New York – March 28, 2014
Citi Private Bank, as a Lead Arranger and Administrative Agent, has successfully led a 4 bank syndication, providing a $375 million commitment to a $1.025 billion Subscription Commitment Facility (the “Facility”) for Lexington Partners.
The Facility is a 3 year revolving line of credit, subject to a one-year extension, and will be used for acquisitions, letters of credit issuance, and for general fund purposes. The entire Facility amount will be available in US Dollars, Euros, Pound Sterling, and Canadian Dollars.
About Financial Sponsors Group at Citi Private Bank
Citi Private Bank’s Financial Sponsors group specializes in meeting the financing needs of private equity firms and their sponsors globally. Citi provides revolving facilities and term loans to private equity funds in 14 countries across 5 continents. This transaction builds on Citi’s global franchise, adding further to over $60 billion in similar financing arranged over the last 10 years.
