Experian secures new five-year revolving credit facility
Credit checking firm Experian has secured a new five-year revolving credit facility totalling $1.95bn.
Experian
3,281.00p
16:54 17/04/24
FTSE 100
7,847.99
17:04 17/04/24
FTSE 350
4,316.81
16:54 17/04/24
FTSE All-Share
4,273.02
16:54 17/04/24
Support Services
10,638.72
16:55 17/04/24
The new facility extends the maturity of its committed funding. It re-finances existing facilities of $2.06bn, which were due to mature in 2020 and 2021 and have now been cancelled.
The facility was self-arranged by Experian and has been provided by a group of thirteen international banks.The key covenants are unchanged from the facilities which are being replaced.
The news comes a day after Experian announced the acquisition of South African credit bureau and information services business, Compuscan, for around $263m.
At 1420 GMT, the shares were up 1.8% to 1,881p.