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Avast signs two new facilities to refinance existing senior loan

Tue, 23rd Mar 2021 08:58

(Alliance News) - Cybersecurity firm Avast PLC on Tuesday said it has priced and completed two new loan facilities, one for USD480 million and the other worth EUR300 million.

The two new facilities have a term of seven years, and will be used by the Prague-headquartered digital security and privacy products provider to refinance its existing senior secured term loan, which is due September 2023.

The facilities have been priced at 2.0% above Libor, at an original issue discount of 0.25%.

Credit Suisse acted as the lead bookrunner, alongside Morgan Stanley.

Shares in Avast were down 0.7% at 480.20 pence on Tuesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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