REG - Auction Technology - Debt Refinance

Auction TechnologyAnnouncement

17/02/2025 07:00

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RNS Number : 2542X  Auction Technology Group PLC  17 February 2025

AUCTION TECHNOLOGY GROUP PLC

 

Auction Technology Group successfully refinances debt facilities

 

 

London, United Kingdom, 17 February 2025 -Auction Technology Group plc ("ATG",
"the Company", "the Group") (LON: ATG), operator of world-leading marketplaces
for curated online auctions, is pleased to announce that it has successfully
completed the refinancing of its Senior Term and Revolving Credit Facilities.

 

The Company has entered into a new $200 million Revolving Credit Facility
("RCF") with a syndicate of five leading banks. The new facility has a
four-year term, with a one-year extension option, and replaces the previous
facilities which were due to mature in 2026.

 

The refinancing enhances the Group's financial flexibility and extends the
maturity of its debt. The new facility is initially priced at a margin of
200bps over the Secured Overnight Financing Rate ("SOFR"), which represents a
reduction compared to the previous facilities.

 

John-Paul Savant, Chief Executive Officer of Auction Technology Group, said:

"We are pleased to have successfully completed this refinancing, which
strengthens our capital structure and provides a more efficient funding
arrangement for the Company. The transaction demonstrates the confidence of
our lenders in our business and ongoing strategic initiatives."

 

ATG was advised by Deutsche Numis on the transaction.

 

For further information please contact:

 ATG
 For investor enquiries, Rebecca Edelman  rebeccaedelman@auctiontechnologygroup.com
                                          (mailto:rebeccaedelman@auctiontechnologygroup.com)
 For media enquiries                      press@auctiontechnologygroup.com (mailto:press@auctiontechnologygroup.com)

 Deutsche Numis                           +44 207 260 1000

 Mike Beadle, Alistair Wood

 Teneo Communications                     +44 207 353 4200
 (Public relations advisor to ATG)        ATG@teneo.com (mailto:ATG@teneo.com)
 Tom Murray, Matt Low, Arthur Rogers

About Auction Technology Group plc

Auction Technology Group plc ("ATG") is the operator of world-leading
marketplaces for curated online auctions, seamlessly connecting bidders from
around the world to approximately 4,000 trusted auction houses across two
major sectors: Industrial & Commercial ("I&C") and Arts & Antiques
("A&A").

The Group powers eight online marketplaces and listing sites using its
proprietary auction platform technology, hosting in excess of 88,000 live and
timed auctions each year and facilitating the sale of approximately 24 million
secondary goods items. ATG has offices in the UK, US, Germany and Mexico.

Numis Securities Limited (which is trading for these purposes as Deutsche
Numis) ("Deutsche Numis"), which is authorised and regulated in the United
Kingdom by the FCA, is acting exclusively for ATG and no one else in
connection with the matters set out in this announcement and will not regard
any other person as its client in relation to the matters in this announcement
and will not be responsible to anyone other than ATG for providing the
protections afforded to clients of Deutsche Numis, nor for providing advice in
relation to any matter referred to in this announcement. Neither Deutsche
Numis nor any of its affiliates (nor any of their respective directors,
officers, employees or agents), owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client of
Deutsche Numis in connection with this announcement, any statement contained
in this announcement or otherwise. No representation or warranty, express or
implied, is made by Deutsche Numis as to the contents of this announcement.

CAUTIONARY STATEMENT The announcement may contain forward-looking statements.
These statements may relate to (i) future capital expenditures, expenses,
revenues, earnings, synergies, economic performance, indebtedness, financial
condition, dividend policy, losses or future prospects, and (ii) developments,
expansion or business and management strategies of the Company.
Forward-looking statements are identified by the use of such terms as
"believe", "could", "should", "envisage", "anticipate", "aim", "estimate",
"potential", "intend", "may", "plan", "will" or variations or similar
expressions, or the negative thereof. Any forward-looking statements contained
in this announcement are based on current expectations and are subject to
risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by those statements. If one or more of these
risks or uncertainties materialise, or if underlying assumptions prove
incorrect, the Company's actual results may vary materially from those
expected, estimated or projected. No representation or warranty is made that
any forward-looking statement will come to pass. Any forward-looking
statements speak only as at the date of this announcement. The Company and its
directors expressly disclaim any obligation or undertaking to publicly release
any update or revisions to any forward-looking statements contained in this
announcement to reflect any change in events, conditions or circumstances on
which any such statements are based after the time they are made, other than
in accordance with its legal or regulatory obligations (including under the UK
Listing Rules and the Disclosure Guidance and Transparency Rules of the
Financial Conduct Authority). Nothing in this announcement shall exclude any
liability under applicable laws that cannot be excluded in accordance with
such laws.

 

LEI Number: 213800U8Q9K2XI3WRE39

 

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