Keywords Studios PLC New Revolving Credit Facility of $400 million (7036G)
21 Luglio 2023 - 8:00AM
UK Regulatory
TIDMKWS
RNS Number : 7036G
Keywords Studios PLC
21 July 2023
21 July 2023
Keywords Studios plc ("Keywords Studios", "Keywords", the
"Company")
New Revolving Credit Facility of $400 million
Keywords Studios, the international provider of creative and
technology-enabled solutions to the global video games and
entertainment industries, is pleased to announce the signing of a
new unsecured multicurrency revolving credit facility agreement
("RCF") of $400 million. The new RCF is for an initial four-year
tenor, with an option to extend the term by a further one-year
period, subject to lender consent.
The new facility, supported by a group of seven global
lenders(1) , replaces the Company's previous EUR150 million
unsecured multicurrency revolving credit facility. The RCF's
financial covenants remain consistent with the previous facility.
The currency has changed from euro to US dollar to match the
expected predominant currency of future borrowings.
Rob Kingston, Chief Financial Officer of Keywords Studios,
commented:
"We are delighted to have finalised this new expanded RCF, which
is more appropriately scaled for a business of our size. We
continue to review a strong pipeline of acquisition candidates and
this RCF, together with our strong cash generation, provides the
long-term liquidity and flexibility to pursue our growth strategy
whilst maintaining a well-balanced mix of equity and debt funding.
The success of this refinancing demonstrates the strength of the
Keywords' credit profile and ability to secure committed funding in
the current lending environment."
[1] Citibank, N.A., London Branch, HSBC Continental Europe, ING
Bank N.V., Dublin Branch, Bank of China (Europe) S.A., Dublin
Branch, Allied Irish Banks, p.l.c., Northern Bank Ltd trading as
Danske Bank, and The Governor and Company of the Bank of
Ireland.
For further information, please contact:
Investor Contacts: Media Contacts:
Keywords Studios MHP Group
Giles Blackham Katie Hunt / Eleni
Director of Investor Menikou / Charles
Relations Hirst
+44 7714 134 681 +44 20 3128 8794
gblackham@keywordsstudios.com keywords@mhpgroup.com
Numis Securities
Nominated Adviser &
Broker
Stuart Skinner / Will
Baunton
+44 20 7260 1000
About Keywords Studios ( www.keywordsstudios.com )
Keywords Studios is an international technology-enabled
solutions provider to the global video games and entertainment
industries. Established in 1998, and now with over 70 facilities in
26 countries strategically located in Asia, Australia, the
Americas, and Europe, it provides services across the entire
content development life cycle through its Create, Globalize and
Engage service lines to a large blue-chip client base across the
globe.
Keywords Studios has a strong market position, providing
services to 24 of the top 25 most prominent games companies. Across
the games and entertainment industry, clients include Activision
Blizzard, Bandai Namco, Bethesda, Electronic Arts, Epic Games,
Konami, Microsoft, Netflix, Riot Games, Square Enix, Supercell,
TakeTwo, Tencent and Ubisoft. Recent titles worked on include
Diablo IV, Hogwarts Legacy, Elden Ring, Fortnite, Valorant, League
of Legends, Clash Royale and Doom Eternal. Keywords Studios is
listed on AIM, the London Stock Exchange regulated market
(KWS.L).
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END
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July 21, 2023 02:00 ET (06:00 GMT)
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