iEnergizer Limited New Debt Facility (0639K)
December 30 2020 - 1:00AM
UK Regulatory
TIDMIBPO
RNS Number : 0639K
iEnergizer Limited
30 December 2020
30 December 2020
iEnergizer Limited
("iEnergizer", the "Company" or the "Group")
New Debt Facility
iEnergizer is pleased to announce that it has entered into a
credit agreement for a new 5-year senior secured term loan facility
(the "Facility") for an aggregate amount of USD$165m, including a
USD$15m revolving credit facility.
The Facility has been secured on significantly more attractive
commercial terms and rates of 3.75 per cent plus LIBOR, compared to
the existing debt facility, which it is replacing and had a minimum
7.00 per cent interest rate. The Group remains highly cash
generative, with a strong balance sheet, and the new facility does
not restrict Dividend payments, subject to maintenance of facility
covenants. Accordingly, the Board intends to maintain its existing
dividend policy going forward.
The Facility is intended to increase debt use within the capital
structure with existing facilities having been substantially
repaid. The Board intends to utilise the additional financing now
available to return cash to shareholders. A further announcement on
a return of cash to shareholders will be made in due course.
The Board is also pleased to note that iEnergizer is now a
member of FTSE AIM 100.
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
For further enquiries, please contact:
iEnergizer Ltd. +44 (0)1481 242233
Chris de Putron
Mark De La Rue
+44 (0)20 3727
FTI Consulting - Communications Adviser 1000
Jonathon Brill / Eleanor Purdon
Arden Partners - Nominated adviser and Broker
Benjamin Cryer/ Steve Douglas / Dan Gee-Summons
(Corporate Finance) +44 (0)20 7614
James Reed-Daunter (Equity Sales) 5900
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRBKLLLBLLZFBE
(END) Dow Jones Newswires
December 30, 2020 02:00 ET (07:00 GMT)
Ienergizer (LSE:IBPO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ienergizer (LSE:IBPO)
Historical Stock Chart
From Apr 2023 to Apr 2024