Elixirr International agrees £45m revolving credit facility

Elixirr International plc (LON:ELIX), an established, global award-winning, challenger consultancy, has agreed a £45m revolving credit 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, Elixirr International 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.”