1st Nov 2022 11:22
Kape Technologies PLC - Isle of Man-based digital privacy and security business - Enters into an agreement for new bank facilities with its existing lenders and two new banks. The new banking facility will replace the existing debt facilities. It will realise USD20 million in net debt reduction, USD8 million of savings on financing costs, and provide long-term financing to support Kape's expansion, the firm says.
Facilities comprise of a USD275.0 million senior secured term facility, a USD150.0 million revolving credit facility and an uncommitted USD75.0 million facility. They have a four-year term.
Current stock price: 221.25 pence, up 0.6% on Tuesday in London
12-month change: down 45%
By Heather Rydings; [email protected]
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