Elixirr International PLC Revolving Credit Facility

RNS Number : 9625H

Elixirr International PLC

14 October 2024

 

ELIXIRR INTERNATIONAL PLC

("Elixirr" or the "Group")

Revolving Credit Facility to Support M&A

 

Elixirr International plc (AIM:ELIX), an established, global award-winning, challenger consultancy, is pleased to have agreed a £45m revolving credit facility (the "Facility") with National Westminster Bank Plc to support delivery of the Group's organic and inorganic growth strategy, whilst limiting equity dilution.

The key terms of the Facility are:

·     £45m revolving credit facility with the flexibility to be drawn in multiple currencies, including Pound Sterling and United States Dollar;

·    Interest rate at a margin of 1.95%-2.60%, dependent on leverage, over SONIA (Sterling Overnight Index Average) or SOFR (Secured Overnight Financing Rate), dependent on currency;

·   Revolving facility, with flexibility to be drawn and repaid, with the undrawn portion only subject to a commitment fee of 35% of the above margin;

·      Standard leverage and interest cover covenants; and

·      Four-year term, with a one-year extension option if mutually agreed.

Graham Busby, Chief Financial Officer and Head of M&A commented:

"We are pleased to have put in place a revolving credit facility with NatWest, which, together with the Group's strong cash generation, significantly enhances our ability to deploy capital and accelerate future acquisitions whilst effectively managing equity dilution."

Enquiries: 

For enquiries, please refer to our Investor Contacts page:

https://www.elixirr.com/investors/investor-contacts

Elixirr International plc                                                                            [phone]  

Stephen Newton, Chief Executive Officer

Graham Busby, Chief Financial Officer

[e-mail]

Cavendish Capital Markets Ltd (Nominated Adviser & Joint Broker)  [phone]

Stephen Keys, Callum Davidson (Corporate Finance),

Sunila De Silva (ECM)

Investec Bank plc (Joint Broker)                                                             [phone]

Carlton Nelson, Henry Reast (Corporate Broking)

 

About Elixirr International plc

Elixirr is an award-winning global consulting firm working with clients across a diverse range of industries, markets and geographies.

Founded in 2009, the firm set out to be the 'challenger consultancy' and do things differently than the large corporate consultancies dominating the industry: working openly and collaboratively with clients from start to finish, delivering outcomes based on innovative thinking, not methodology, and treating each client's business like their own. Elixirr has been quoted on the AIM market of the London Stock Exchange since 2020. In addition to strong organic growth, Elixirr has acquired six boutique firms - Den Creative, Coast Digital, The Retearn Group, iOLAP, Responsum and Insigniam - to grow the Group's capabilities, diversify the business, expand into new geographies and access new clients.

 

This announcement contains 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 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

 

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