Accsys completes EUR 55m debt refinancing

(Sharecast News) - Accsys Technologies announced on Wednesday that it has completed a €55m debt refinancing agreement with ABN Amro and HSBC UK, strengthening its balance sheet and improving liquidity on more favourable terms.

The AIM-traded firm said the new facilities, comprising a €20m term loan and a €35m revolving credit facility, were committed for three years to October 2028, with an option to extend to October 2029 at the lenders' discretion.

"This strategic re-financing model strengthens our capital structure, enhances financial flexibility and further de-risks our profile, positioning us to execute our 'FOCUS' strategy and growth plans with greater confidence and resilience," said chief executive Jelena Arsic van Os.

Accsys said the refinancing replaced its existing €52.1m facility with ABN Amro, which had been due to mature in September 2027.

It said the agreement provided additional liquidity and improved pricing, along with lower quarterly repayments, enhancing its financial flexibility as it continued to execute its growth plans under the company's FOCUS strategy.

"The success of this refinancing demonstrates continued strong support from ABN Amro, and we are delighted to partner with HSBC, a bank of significant strength and reputation," commented chief financial officer Sameet Vohra.

"We are pleased to have secured improved financing facilities and we would like to take this opportunity to thank ABN Amro and HSBC who have demonstrated confidence in our business model and strategy."

At 1202 BST, shares in Accsys Technologies were up 2.1% at 62.79p.

Reporting by Josh White for Sharecast.com.

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