Keywords Studios PLC New Revolving Credit Facility (2610Q)
June 05 2018 - 2:00AM
UK Regulatory
TIDMKWS
RNS Number : 2610Q
Keywords Studios PLC
05 June 2018
05 June 2018
Keywords Studios plc ("Keywords", "the Group")
New Revolving Credit Facility for up to EUR105m agreed
Keywords Studios, the international technical services provider
to the global video games industry, today confirms the completion
of a new revolving credit facility, in line with the terms outlined
in the Group's full year results announcement on 9 April 2018.
The new facility is being provided by Barclays Bank plc, HSBC
Bank plc and Lloyds Banking Group plc for an initial EUR75m over a
three-year term, with the option to extend the facility up to
EUR105m and by a further two years. It replaces the existing EUR35m
facility and is on improved terms.
Andrew Day, Chief Executive of Keywords Studios, commented:
"We are pleased to have finalised this significantly expanded
facility, on terms which improve upon our previous arrangement, in
line with our intention of maintaining a conservative mix of equity
and debt funding to support our investments in both the underlying
business and new activities.
"We have made 4 acquisitions to date this year and, over the
last twelve months, we have invested to substantially expand our
capacity across six existing and five new facilities.
"We are reviewing a strong pipeline of acquisition candidates
and organic investment opportunities as we continue to build our
business organically and through acquisition. This facility gives
us the flexibility and headroom to act on our investment decisions
whilst continuing to enhance shareholder value."
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Andrew Day, Chief Executive
Officer
David Broderick, Chief Financial
Officer +353 190 22 730
Numis (Financial Adviser)
Stuart Skinner / Kevin Cruickshank
(Nominated Adviser)
James Black / Tom Ballard
(Corporate Broker) 020 7260 1000
MHP Communications (Financial 020 3128 8100
PR) keywords@mhpc.com
Katie Hunt / Ollie Hoare
About Keywords Studios (www.keywordsstudios.com)
Keywords Studios is an international technical services provider
to the global video games industry. Established in 1998, and now
with over 40 facilities in 20 countries strategically located in
Asia, the Americas and Europe, it provides integrated art creation,
software engineering, testing, localisation, audio and customer
care services across more than 50 languages and 16 games platforms
to a blue-chip client base of approximately 650 clients across the
globe. It has a strong market position, providing services to 23 of
the top 25 most prominent games companies, including Activision
Blizzard, Bandai Namco, Bethesda, Electronic Arts, Konami, Riot
Games, Sony, Square Enix, Supercell, TakeTwo, and Ubisoft. Recent
titles worked on include Uncharted 4: A Thief's End, Call of Duty:
WWII, Mortal Combat X, Assassin's Creed Origins, Battlefield 1,
League of Legends, Fortnite, Clash Royale, and Mobile Strike.
Keywords Studios is listed on AIM, the London Stock Exchange
regulated market (KWS.L).
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END
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