3rd May 2016 06:56
LONDON (Alliance News) - Keywords Studios PLC, a technical services provider to the global video games industry, on Tuesday said it signed a revolving credit facility with Barclays Bank PLC, in a mover that offers "flexibility" when financing acquisitions.
With an initial committed amount of EUR10.0 million that can be extended by EUR5.0 million with the approval of the bank, the secured facility has a five-year term.
The facility is intended to be used for both working capital and acquisition financing, Keywords said.
"We are pleased to have further strengthened our relationship with Barclays and the introduction of this long-term credit facility provides the group with additional flexibility in the financing of acquisitions and the group as a whole," Chief Executive Andrew Day said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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