Kape Technologies rises after entering new bank facility

Kape Technologies

01/11/2022 11:06

** Shares of digital security and privacy software business
Kape  KAPE.L  rise 4.5% to 230p
    ** KAPE enters into agreement with lenders for new long-term
bank facility that replaces existing debt facilities
    ** New facilities comprise $275 million senior secured term
facility, $150 million revolving credit facility and uncommitted
$75 million facility
    ** Upon replacing existing facilities, co to realise about
$20 million in net debt reduction and about $8 million of
savings on financing costs
    ** Including session's gain, KAPE down about 50% YTD
 (Reporting by Muhammed Husain in Bengaluru)
 ((Muhammed.Husain@thomsonreuters.com;))