KBRA Assigns an A+ Rating to BNP Paribas' Subscription Facility to BNP Paribas European SME Debt Fund 3 S.A. SICAV-RAIF
4 Oct 2024 | London
KBRA UK (KBRA) assigns an A+ rating and Stable outlook to a subscription facility provided by BNP Paribas in the form of a senior secured revolving credit facility (the "Facility"), to BNP Paribas European SME Debt Fund 3 S.A. SICAV-RAIF ("SME Debt Fund 3"). The rating was requested by BNP Paribas as the sole lender in the transaction.
The Facility is a bilateral facility to which BNP Paribas has committed €70 million. The Facility is used for working capital and investment purposes including investments. In January 2024, the Facility duration was extended by one year to January 2025.
SME Debt Fund 3 is the third vintage fund in BNP Paribas Asset Management Europe's SME financing strategy and had its Final Close in July 2024. The Fund will follow the investment strategy of its predecessor funds, expected to build a portfolio of at least 70 assets. The investment strategy targets European-based SMEs, mostly co-financed by BNP Paribas Group with senior and first ranking debt.
BNP Paribas Asset Management Europe is BNP Paribas’ asset management arm, with approximately €562 billion of assets under management, including €300 billion of institutional assets under management. The firm employs over 3,200 employees in more than 30 countries. BNP Paribas Asset Management Europe serves individual, corporate and institutional clients in 67 countries across Europe and Asia Pacific. The firm has offerings across five capabilities: High Conviction Active Strategies, Emerging Markets, Private Assets, Systematic, Quantitative & Index, and Liquidity Solutions.
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