15th Mar 2016 09:34
LONDON (Alliance News) - Accesso Technology Group PLC on Tuesday said it has completed the early renewal and extension of its banking facility with Lloyds Bank PLC.
Accesso said the new facility offers an increased drawdown facility of USD25.0 million, plus another USD10.0 million to back potential acquisitions. It will replace Accesso's existing USD22.0 million facility.
The deal has been provided at an improved drawdown rate of 1.35% above Libor and will terminate in March 2019.
"The improved terms and increased drawdown facility say a great deal about the financial track record and revenue visibility we have built and we can now continue to pursue our stated growth strategy, comfortable in the knowledge that the flexibility for important investments is secure and open to us," said Accesso Chief Financial Officer John Alder.
Accesso shares were up 0.3% to 942.82 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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