AUCTION
TECHNOLOGY GROUP PLC
Auction
Technology Group successfully refinances debt facilities
London, United Kingdom, 17 February
2025 -Auction Technology Group plc ("ATG", "the Company", "the
Group") (LON: ATG), operator of world-leading marketplaces for
curated online auctions, is pleased to announce that it has
successfully completed the refinancing of its Senior Term and
Revolving Credit Facilities.
The Company has entered into a new
$200 million Revolving Credit Facility ("RCF") with a syndicate of
five leading banks. The new facility has a four-year term, with a
one-year extension option, and replaces the previous facilities
which were due to mature in 2026.
The refinancing enhances the Group's
financial flexibility and extends the maturity of its debt. The new
facility is initially priced at a margin of 200bps over the Secured
Overnight Financing Rate ("SOFR"), which represents a reduction
compared to the previous facilities.
John-Paul Savant, Chief Executive
Officer of Auction Technology Group, said:
"We are pleased to have successfully
completed this refinancing, which strengthens our capital structure
and provides a more efficient funding arrangement for the Company.
The transaction demonstrates the confidence of our lenders in our
business and ongoing strategic initiatives."
ATG was advised by Deutsche Numis on
the transaction.
For further information please
contact:
About Auction Technology Group
plc
Auction Technology Group plc ("ATG")
is the operator of world-leading marketplaces for curated online
auctions, seamlessly connecting bidders from around the world to
approximately 4,000 trusted auction houses across two major
sectors: Industrial & Commercial ("I&C") and Arts &
Antiques ("A&A").
The Group powers eight online
marketplaces and listing sites using its proprietary auction
platform technology, hosting in excess of 88,000 live and timed
auctions each year and facilitating the sale of approximately 24
million secondary goods items. ATG has offices in the UK, US,
Germany and Mexico.
Numis Securities Limited (which is trading for these purposes
as Deutsche Numis) ("Deutsche Numis"), which is authorised and
regulated in the United Kingdom by the FCA, is acting exclusively
for ATG and no one else in connection with the matters set out in
this announcement and will not regard any other person as its
client in relation to the matters in this announcement and will not
be responsible to anyone other than ATG for providing the
protections afforded to clients of Deutsche Numis, nor for
providing advice in relation to any matter referred to in this
announcement. Neither Deutsche Numis nor any of its affiliates (nor
any of their respective directors, officers, employees or agents),
owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Deutsche
Numis in connection with this announcement, any statement contained
in this announcement or otherwise. No representation or warranty,
express or implied, is made by Deutsche Numis as to the contents of
this announcement.
CAUTIONARY STATEMENT The
announcement may contain forward-looking statements. These
statements may relate to (i) future capital expenditures, expenses,
revenues, earnings, synergies, economic performance, indebtedness,
financial condition, dividend policy, losses or future prospects,
and (ii) developments, expansion or business and management
strategies of the Company. Forward-looking statements are
identified by the use of such terms as "believe", "could",
"should", "envisage", "anticipate", "aim", "estimate", "potential",
"intend", "may", "plan", "will" or variations or similar
expressions, or the negative thereof. Any forward-looking
statements contained in this announcement are based on current
expectations and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by those statements. If one or more of these risks or
uncertainties materialise, or if underlying assumptions prove
incorrect, the Company's actual results may vary materially from
those expected, estimated or projected. No representation or
warranty is made that any forward-looking statement will come to
pass. Any forward-looking statements speak only as at the date of
this announcement. The Company and its directors expressly disclaim
any obligation or undertaking to publicly release any update or
revisions to any forward-looking statements contained in this
announcement to reflect any change in events, conditions or
circumstances on which any such statements are based after the time
they are made, other than in accordance with its legal or
regulatory obligations (including under the UK Listing Rules and
the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority). Nothing in this announcement shall exclude any
liability under applicable laws that cannot be excluded in
accordance with such laws.
LEI Number:
213800U8Q9K2XI3WRE39
