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92.90 -2.70 (-2.82%)

Bid:

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Spread: 0.30 (0.322%)

Market Cap: £646.74m

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GlobalData agrees new three-year, £410m debt facility

Wed, 10th Aug 2022 16:37

(Sharecast News) - Industry intelligence specialist GlobalData has agreed a new three-year £410m debt financing facility maturing on 5 August 2025, it announced on Wednesday, with an option to extend by another year.

The AIM-traded firm said the facility consisted of a £290m term loan to be used in part to repay existing debt of £230m, as well as a revolving credit facility of £120m.

It said the revolving credit facility was currently undrawn, but would be used to support its long-term growth plans, including for merger and acquisition activity.

"The new debt facility gives the group additional firepower to execute against its stated merger and acquisition growth strategy over the medium term," said chief executive officer Mike Danson.

"Our platform offers a significant opportunity to create shareholder value through strategic acquisitions and it is pleasing to have secured the financing to support this.

"We thank our existing lenders, who have all extended their support through participation in this issuance, plus our new lenders in a wider and marquee lender book."

At 1617 BST, shares in GlobalData were up 0.48% at 1,266p.

Reporting by Josh White at Sharecast.com.