New £120M multi-currency revolving credit facility
NCC Group secured a new £120m four-year revolving credit facility replacing its previous £162.5m facility.
- New RCF facility £120m
- Uncommitted accordion option £50m
- Facility expiry 28 April 2029
- Net cash position £0.3m (prior following €78.5m Fox Crypto B.V. disposal)
- Previous RCF £162.5m (prior expiring 22 December 2026)
- Margin range 1.35% to 2.35% on SONIA/SOFR
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NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), a people-powered, tech-enabled global cyber security and software escrow business, announces that, it has agreed a new four-year £120m multi-currency revolving credit facility ("RCF"), with a £50m uncommitted accordion option, provided by a syndicate of National Westminster Bank plc, HSBC UK Bank plc, Barclays Bank plc and Santander UK plc. The new RCF facility will expire on 28 April 2029. The new facility replaces the Group's previous £162.5m RCF, which had an expiry date of 22 December 2026.
As of 31 March 2025, the Group had net cash of £0.3m following the disposal of Fox Crypto B.V. for €78.5m. The new facility is unsecured, with a margin payable above SONIA/SOFR on a ratchet mechanism in the range of 1.35% to 2.35% depending on the level of the Group's leverage.
NCC was advised by Alvarez & Marsal Europe LLP, Debt Advisory, Manchester office.
Guy Ellis, CFO, commented:
"We would like to thank NatWest and HSBC for their continued support, and we welcome Barclays and Santander to the syndicate. This new facility, combined with our net cash position, continues to give NCC Group flexibility to pursue its strategy in 2025 and beyond."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.