17th Jan 2022 10:03
Micro Focus International PLC - Newbury, Berkshire-based enterprise software firm - Prices and allocates EUR750 million and USD750 million senior secured term loans. Facilities have five-year term and will be used by company to refinance existing senior secured term loans, both euro and dollar denominated. The existing facilities are due in June 2024. Final pricing of the new five-year facilities is 4.00% above Euribor at an original issue discount of 0.5% for the euro denominated issue and 4.00% above the secured overnight financing rate at an issue discount of 1.0% for the dollar issue. The company's average debt maturity is now 3.6% years, extended from 2.7 years. Transaction was led by JP Morgan in conjunction with HSBC, Citi, Natwest, Bank of America and Goldman Sachs.
In addition, Micro Focus extends its revolving credit facility by 18 months to December 2026 on "substantially" same terms as before. "The USD250 million RCF was implemented with the same group of banks," it adds.
Current stock price: 443.10 pence, up 1.2% on Monday
12-month change: up 8.0%
By Eric Cunha; [email protected]
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