SWITZERLAND - AIG PE reaches agreement with lenders

The outstanding balance under the credit facility is approximately $86m. As part of the standstill agreement, the company will repay $2m immediately.

During the standstill period, the company will be required to abide by certain agreed covenants, which comprise the creation of a pledge in favour of the banking consortium.

AIG Private Equity has been seeking financing from new investors and has received initial proposals from a number of potential investors, which will now be reviewed.

At the annual general meeting held on 2 June, all motions were approved as proposed by the board of directors. This includes the change of the firm name from AIG Private Equity Ltd. to APEN Ltd.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• DACH