26th Sep 2014 06:50
LONDON (Alliance News) - Document management company Idox PLC Friday said it has signed a new four-year, GBP40 million banking facility with The Royal Bank Of Scotland Group PLC and Silicon Valley Bank.
The new deal comprises a GBP17 million term loan and a GBP23 million revolving credit facility. RBS is providing GBP25 million of the funding, with Silicon Valley Bank providing the other GBP15 million.
"In choosing new finance partners we wanted to work with institutions which have an understanding of our industry and how Idox is placed within it, while also having a demonstrable track record of delivery," said Idox Chief Financial Officer Jane Mackie.
By Sam Unsted; [email protected]; @SamUAtAlliance
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