XCH.L Regulatory News (XCH)

Xchanging plc

New banking facilities agreed to 2015

Xchanging plc ("Xchanging") the business process and technology services provider and integrator today announces the successful signing of an agreement for the refinancing of its term and revolving credit facilities.

A new facility agreement has been signed for a £20 million term loan and a £75 million revolving credit facility, for a four year term.

In March Xchanging announced it had embarked on a process to refinance its principal banking facilities and that it expected to complete the exercise by the time of the Half Year Results on 1 August 2011. With the support of the Group's relationship banks (Lloyds Banking Group, Barclays, RBS, DBS and HSBC), the company has now signed a new facilities agreement.

Ken Lever, Chief Executive, commented:

"This is an important cornerstone in the foundations of our transition programme under our Four Point Action Plan. It ensures the company has its funding in place to support our future plans."

Enquiries

Xchanging plc Tel: +44 (0) 207 780 6999

Ken Lever, Chief Executive

Alexandra Hockenhull, Head of Corporate Communications

and Investor Relations

Maitland Tel: +44 (0) 207 379 5151

Neil Bennett

George Hudson

About Xchanging

Xchanging is a business process and technology service provider and integrator specialising in Financial Services, Insurance Services, Technology and Procurement, with pervasive processing skills and capabilities applicable to other vertical industry and market sectors.

www.xchanging.com 

Cautionary Statement: 

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. Undue reliance should not be placed on any such statements because they speak only as at the date of this document and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

There are a number of factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are; increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.