Glantus Holdings PLC Debt refinancing successfully completed (5160T)
23 July 2022 - 2:44AM
UK Regulatory
TIDMGLAN
RNS Number : 5160T
Glantus Holdings PLC
22 July 2022
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014
AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
Glantus Holdings plc
("Glantus" or' the "Company")
Debt refinancing successfully completed
Glantus (AIM: GLAN), a leading provider of software as a service
("SaaS") solutions delivering automation and analytics to the
Accounts Payable ("AP") function is pleased to confirm that it has
successfully refinanced its debt facilities, with Beachpoint
Capital ("BPC").
The key aim of refinancing was to lower the cost of capital for
the Company. After engaging debt brokers and reviewing several
offers the Board have decided to proceed with BPC as they offered
the most competitive terms for the Company.
The revised facilities key terms comprise:
-- Interest rate reduction to 10% from existing 12%
-- Deferring capital repayments for 12 months
-- Additional working capital facility of EUR2m to invest in further product development
-- Maturity of loans remains unchanged at Aug 2023 and July 2025
-- Exit Fee Structure has been improved by reducing the increase
in the exit fee which was set out in the previous agreement.
.
Maurice Healy, Chief Executive, said:
"I am pleased to be able to announce the successful completion
of Glantus' refinancing today with improved terms. This is an
important milestone for our business, ensuring we have the
financial foundations in place to capitalise on the opportunities
ahead."
For further Information visit www.glantus.com , follow on
twitter @GlantusLTD or contact:
Glantus Holdings plc + 353 87 9452047
Maurice Healy, CEO
Grainne McKeown, CFO
ir@glantus.com
Shore Capital + 44 207 408 4090
Nominated Advisor and Broker
Patrick Castle / John More / Tom Knibbs (Corporate Advisory)
Andrew Beswick (Corporate Broking)
Flagstaff Strategic and Investor Communications
Tim Thompson + 44 7710 718 649
Mark Edwards
Fergus Mellon
glantus@flagstaffcomms.com
About Glantus Holdings plc
Glantus Holdings (AIM: GLAN) Glantus is a global provider of
accounts payable automation and analytics solutions. Glantus'
mission is to harness technology to drive innovation, unlocking
efficiencies in AP to maximise working capital for global
enterprise organisations. The award-winning Glantus DataShark
Platform connects all AP systems and suppliers on one agile
platform, eliminating cost and delivering new revenue streams. We
work in tandem with our partners to deliver joint enterprise
digital transformation solutions. For
more information see glantus.com .
Founded in 2014 and headquartered in Dublin, Glantus has offices
in the United States, United Kingdom, and Poland, employing over
120 people.
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END
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