19th May 2020 14:39
(Alliance News) - GloblaData PLC said Tuesday it has agreed to increase its current banking facilities with its lenders, extending the current maturity to April 2023 from 2022.
In addition, the new arrangements with NatWest, HSBC and Bank of Ireland have also increase the total committed facility to GBP145.5 million from GBP100 million, plus a further uncommitted accordion facility of GBP75 million.
The committed facility comprises a GBP50 million term loan and a revolving credit facility of GBP95.5 million.
"We are very pleased to have received such strong support from our existing lenders, to whom we have been able to showcase the strength and defensibility of our model, even during these uncertain times. We look forward to pursuing a more active M&A strategy with the enhanced capabilities that the additional facility provides," said Chief Executive Officer Mike Danson.
Shares in GlobalData were down 3.1% at 1,356.74 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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