WANdisco Plc New Bank Facility (0710J)
26 June 2017 - 4:00PM
UK Regulatory
TIDMWAND
RNS Number : 0710J
WANdisco Plc
26 June 2017
26 June 2017
WANdisco plc
("WANdisco" or the "Company")
New Bank Facility
WANdisco (LSE: WAND), the world leader in Active Data
Replication(TM), is pleased to announce that it has entered into a
new debt facility ("the Facility") provided by Silicon Valley Bank.
The Facility replaces an existing HSBC facility that is due to
expire on 30 June 2017. The new facility will mature on 1(st) April
2021.
The Facility comprises of up to $5.0 million available as a term
debt facility, with an interest-only period to 31 May 2018,
followed by a 3 year maturity at a floating interest rate of prime
+ 1.5% per annum, capitalising on current low interest rates. In
addition, there will be up to $3.0 million available through a
revolving credit facility secured by qualified accounts
receivable.
Erik Miller, Chief Financial Officer of WANdisco, commented:
"We are delighted to announce this new facility, with a term
debt component to support our growth capital needs in a
non-dilutive way, as well as a revolving line of credit that should
improve operational cash flow as our revenues continue to grow.
"Silicon Valley Bank have provided finance to many successful
technology companies and we are pleased to have secured them as our
partner."
For further information, please contact:
WANdisco plc via Vigo Communications
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)207 830
Vigo Communications 9703
Jeremy Garcia / Fiona Henson
/ Antonia Pollock
www.vigocomms.com
+44 (0)207 710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Rajpal
Padam
UBS (Joint Broker) +44 (0)207 567
Rahul Luthra / Sandip Dhillon 8000
About WANdisco
WANdisco is the world leader in Active Data Replication(TM). Its
patented WANdisco Fusion technology enables the replication of
continuously changing data to the cloud and on-premises data
centers with guaranteed consistency, no downtime and no business
disruption. It also allows distributed development teams to
collaborate as if they are all working in one location. WANdisco
has an OEM with IBM as well partnerships with Amazon Web Services,
Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure,
and Oracle to resell its patented technology. WANdisco also works
directly with Fortune 1000 companies around the world to ensure
their data can give them the real insight they need.
For additional information, please visit wandisco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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