REG - GlobalData PLC - Increased Banking Facilities
RNS Number : 3748NGlobalData PLC19 May 202019 May 2020
GlobalData Plc
Increased Banking Facilities
GlobalData plc (the "Group"), is pleased to announce that it has agreed to increase its current banking facilities with NatWest, HSBC and Bank of Ireland, extending the current maturity to April 2023, (previously April 2022).
Furthermore, the new arrangements increase the total committed facility to £145.5 million (previously £100 million), plus a further uncommitted accordion facility of £75m. The committed facility comprises a term loan of £50 million and a revolving credit facility of £95.5 million.
The new banking arrangements, together with cash reserves, give the Group liquidity in excess of £100m, to provide funding for further acquisitions.
Mike Danson, Chief Executive Officer of GlobalData, commented:
"We are very pleased to have received such strong support from our existing lenders, to whom we have been able to showcase the strength and defensibility of our model, even during these uncertain times. We look forward to pursuing a more active M&A strategy with the enhanced capabilities that the additional facility provides."
ENQUIRIES:
GlobalData Plc
0207 936 6400
Mike Danson, Chief Executive Officer
Graham Lilley, Chief Financial Officer
N+1 Singer
0207 496 3000
James Maxwell
Justin McKeegan
Hudson Sandler
0207 796 4133
Nick Lyon
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDMSCKKCBKBBKDQPD
Recent news on GlobalData
See all newsREG - GlobalData PLC - Director/PDMR Shareholding
AnnouncementREG - GlobalData PLC - Appointment of Joint Broker
AnnouncementREG - GlobalData PLC - Results of Annual General Meeting
AnnouncementREG - GlobalData PLC - Annual Report for year ended 31 December 2023
AnnouncementREG - GlobalData PLC - Holding(s) in Company
Announcement