KBRA Assigns a Rating to a Capital Call Facility for BBOF VI Holding C.V.
20 Mar 2025 | London
KBRA UK (KBRA) assigns a rating to a revolving credit facility for BBOF VI Holding C.V., an investment vehicle owned by Bencis VI Coöperatief and Bencis VI C.V. (together, “BBOF VI” or the “Fund”). The rating was requested by Bencis Capital Partners B.V. (“Bencis”). KBRA has assigned an A+ rating to the Facility. The Outlook is Stable.
The Facility is a €100 million bilateral facility available as revolving loans and letters of credit provided by ABN AMRO Bank N.V. The purpose of the Facility is for bridging financing acquisition costs, general corporate and working capital purposes and the payment of fees, interest and expenses relating to investments and the Facility. The Facility is due to mature in December 2025, with the option of extensions at Lender discretion. The Lenders benefit from a market standard security package consisting of security over: (i) the investors’ uncalled capital commitments, the rights to issue capital calls and receive proceeds of the capital contributions; and (ii) the collateral accounts into which such capital contributions are required to be paid. Following an enforcement event, the Agent has enforcement rights including the right to accelerate the Facility, prevent withdrawals from the collateral accounts and to issue a capital call directly to the investors for the purpose of repaying all amounts due under the Facility.
BBOF VI focuses on private equity investments in mature middle market companies in Benelux and Germany. Bencis is an investment company that was founded in 1999 by Zoran van Gessel and Jeroen Pit, and invests in businesses headquartered in the Netherlands, Belgium and Germany. Bencis have 34 professionals based in offices in Amsterdam, Brussels and Düsseldorf. Since 2000, Bencis has raised six funds. Bencis is currently an investor in 32 businesses and seeks majority stakes in their investments, and the original shareholders often stay on as part of the management team.
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