CentralNic Group Plc (LON:CNIC), the global internet platform that derives recurring revenue from marketplaces for online presence and online marketing services, has announced that further to the announcement made on 17 October 2022, the Company has now completed on its refinancing. As part of this, CentralNic has a new USD 250 million Senior Facilities Agreement.
The SFA comprises of a USD 150 million term loan (“TL”) and a USD 100 million committed revolving credit facility (“RCF”) and provides a notable reduction in borrowing costs to the Group. Funds from the TL have been used to fully repay CentralNic’s EUR 126 million senior secured bonds as well as repay drawings under the Group’s previous revolving credit facility. CentralNic’s new RCF is available for general corporate purposes, including M&A.
Michael Riedl, CFO of CentralNic, said: “The new senior facilities agreement reduces CentralNic’s cost of capital and further augments the Company’s capacity to continue to execute its roll-up strategy. It is a great vote of confidence by our financing partners and a testament to the resilience of our business model as well as our disciplined approach to capital allocation. We remain focused on executing our strategy and welcome the new syndicate of banks to working with the Group.”
