3i investment capital boosted by £595m credit facility

According to an article in Financial News, 3i has completed a credit facility of £595m to boost its investment capital. The following banks made commitments of £85m: Barclays Bank, Bayerische Landesbank, Commerzbank, Danske Bank, Dresdner Kleinwort Wasserstein, Lloyds TSB and the Royal Bank of Scotland. Alan Walker, 3i Treasurer, states that the facility will be largely 'standby' in nature and will be used to support fund investments. As a quoted company, 3i can invest off its balance sheet and this gives it scope to invest alongside funds it has raised. Walker states that 3i aims for 'each investment to be split equally between 3i and the fund'.

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