GBG completes £175m refinancing of its revolving credit facility
The Chester-based identity technology group's new unsecured facility runs until September 2030.
Identity technology company GB Group plc (GBG) has completed a £175million revolving credit facility.
The Chester-based group said this morning that the new facility replaces its existing one, which would otherwise have matured in July next year.
The deal is unsecured and runs to September 2030, with options to extend maturity by one year on two occasions.
David Ward, chief financial officer of GBG, said: “I am pleased that we have successfully refinanced our RCF at similar commercial terms to our existing facility but for a longer tenor.”
“This secures our capital structure for an extended period while providing enhanced flexibility to support the continued execution of our strategic objectives,” he added.
The facility was arranged with a group of existing and new lenders including HSBC Innovation Bank Ltd, National Westminster Bank plc, Barclays Bank plc and Fifth Third Bank, National Association.
GBG has more than 1000 employees in 15 countries and provides what it calls “mission-critical” services to guard against digital crime and support business resilience.
Earlier this year Gumtree appointed GBG for automation as well as end-to-end verification and monitoring of businesses.
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