27th Jul 2015 08:54
LONDON (Alliance News) - IBEX Global Solutions PLC has increased and expanded its existing revolving credit finance facility with the US's PNC Bank, National Association.
IBEX, which provides contact centre services and other business process outsourcing, said the amendment to the original revolving credit facility results in a USD5 million increase to USD40 million and an additional USD10 million non-revolving line of credit to finance capital expenditure.
The new facility matures on May 1, 2020 and has improved terms, IBEX said.
The original facility had been due to mature on November 7, 2016, having begun on the same date in 2013.
"We are very pleased to improve and expand the company's relationship with such a prestigious banking partner as PNC. We have had a great relationship with PNC since 2013, and we see this RCF increase and expansion as the most positive demonstration of support for IBEX and its prospects. These increased and expanded facilities will enable the company to continue to realise its growth potential," IBEX Chief Executive Robert Dechant said in a statement.
IBEX shares were untraded in London on Monday morning at 126.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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