13th Aug 2024 18:54
Water Intelligence PLC - London-based provider of water infrastructure technology solutions - Announces the refinancing of its existing debt and expansion of its credit facilities with US bank, M&T Bank. The refinancing spreads the amortization of around USD21 million of total liabilities through 2029 at a fixed rate of 6.35%. The debt service for the next five years requires between 5% and 10% of principal to be repaid each year freeing additional cash for available "accretive growth opportunities". Further, expands credit capacity with a USD3 million acquisition line of credit with a floating market rate capped at 8% and a USD2 million working capital line of credit at a floating market rate. Following these changes, the group will have more than USD20 million in resources. Read More
