Debt Refinance
ATG refinances $200m revolving credit facility with four-year term and reduced margin
- Revolving Credit Facility $200 million
- Facility term four years
- Interest margin 200bps over SOFR
- Extension option one year
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London, United Kingdom, 17 February 2025 -Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG), operator of world-leading marketplaces for curated online auctions, is pleased to announce that it has successfully completed the refinancing of its Senior Term and Revolving Credit Facilities.
The Company has entered into a new $200 million Revolving Credit Facility ("RCF") with a syndicate of five leading banks. The new facility has a four-year term, with a one-year extension option, and replaces the previous facilities which were due to mature in 2026.
The refinancing enhances the Group's financial flexibility and extends the maturity of its debt. The new facility is initially priced at a margin of 200bps over the Secured Overnight Financing Rate ("SOFR"), which represents a reduction compared to the previous facilities.
John-Paul Savant, Chief Executive Officer of Auction Technology Group, said:
"We are pleased to have successfully completed this refinancing, which strengthens our capital structure and provides a more efficient funding arrangement for the Company. The transaction demonstrates the confidence of our lenders in our business and ongoing strategic initiatives."
ATG was advised by Deutsche Numis on the transaction.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.