Identity technology company, GB Group plc, has completed a £175million revolving credit facility.
Announcing the news this morning, the Chester-based group said it replaced the existing facility which was due to mature in July next year.
The new deal has been structured on an unsecured basis and will run until September 2030, with 2 optional one-year maturity extension options.
“I am pleased that we have successfully refinanced our RCF at similar commercial terms to our existing facility but for a longer tenor,” explained David Ward, Chief Financial Officer of GBG.
“This secures our capital structure for an extended period while providing enhanced flexibility to support the continued execution of our strategic objectives.”
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It’s been arranged with a syndicate of existing and new lending partners, including HSBC Innovation Bank Ltd, National Westminster Bank plc, Barclays Bank plc and Fifth Third Bank, National Association.
GBG employs more than 1000 staff across 15 countries. It provides “mission-critical” services to protect against digital crime and provide business resilience.
Earlier this year it was appointed by Gumtree to provide automation and end-to-end business verification and monitoring.
