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Kape secures new debt facility of up to $220m
StockMarketWire.com
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Digital security and privacy software business Kape said it had entered into an agreement with its existing bank syndicate as well as three new banks for new senior secured bank facilities of up to $220 million.
The new debt facilities will replace all Kape's existing loan facilities.
The three new banks that supported the new bank facility were Citizens Bank, BNP Paribas and Leumi Bank.
The new debt facilities had a three-year term with an option to extend by up to an additional two years.
Funding was expected to take place next week.
The new debt facilities carry a margin of 2% above applicable reference rate per annum reducing the debt cost from the 6% interest on the existing subordinated bridge loan.
At 8:13am: (LON:KAPE) Kape Technologies PLC share price was 0p at 174.5p
Story provided by StockMarketWire.com
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