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Rating:McPeek Tweaks Janus' Access to Cash Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 27, 2013

McPeek Tweaks Janus' Access to Cash

Reported by Neil Anderson, Managing Editor

Janus [profile] just exchanged one credit line for another with a slightly different size and duration.

On Monday, the Denver-based mutual fund swapped out its old three-year, $250-million revolving credit facility for a new, smaller, longer duration one: a five-year, $200-million credit facility, backed by J.P. Morgan as administrative agent and Wells Fargo as syndication agent [see the SEC filing].

Though the new credit line is a little smaller than the old, Janus has the option to amp it up even further, to $300 million, if need be and the lenders agree.

Janus revealed that it never actually tapped the old credit line and that it hasn't yet tapped the new one. 

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