Kalibrate Technologies plc US$5 million revolving line of credit (3609S)
March 17 2016 - 2:00AM
UK Regulatory
TIDMKLBT
RNS Number : 3609S
Kalibrate Technologies plc
17 March 2016
17 March 2016
Kalibrate Technologies plc
("Kalibrate" and together with its subsidiaries, the
"Group")
US$5 million revolving line of credit
Kalibrate Technologies plc (AIM: KLBT), the provider of strategy
and technology services to the global fuel and convenience retail
industry, is pleased to announce that the Group has entered into a
US$5 million revolving line of credit (the "Facility") with PNC
Bank, N.A., a member of the PNC Financial Services Group, Inc.
(NYSE:PNC). The Facility will be used for the issuance of
performance bonds/letters of credit, foreign exchange facilities,
potential business development opportunities and general working
capital.
The Facility is for a two year term with an interest rate of 2%
above LIBOR. There is a small unused facility fee of 0.25%. The
Facility is secured by way of an all asset pledge by the Group.
Fixed charge coverage ratios and funded debt to EBITDA ratios are
in place and are tested on a semi-annual basis.
Commenting on the Facility, Bob Stein, CEO of Kalibrate,
said:
"We are pleased to announce the securing of a two year revolving
line of credit extension on good terms for the Group. We will use
the Facility to expand and grow our business."
For further information please contact:
Kalibrate Technologies plc via FTI Consulting,
LLP
Robert B Stein, Jr. Chief
Executive Officer
Gregg R Budoi, Chief Financial
Officer
N+1 Singer Advisory LLP +44 (0) 20 7496 3000
Shaun Dobson / Alex Price
FTI Consulting, LLP +44 (0) 20 3727 1000
Matt Dixon / Chris Lane /
Emma Appleton/ Elena Kalinskaya
About Kalibrate
For over 20 years, Kalibrate (LSE: KLBT) has advised fuel and
convenience retailers throughout the world on how to be
best-in-class operators in the fast changing marketplace.
Kalibrate's global footprint and local presence are the result of a
merger between two market leaders: KSS Fuels, the forerunner in
fuel pricing automation, and MPSI, recognized leaders of retail
location intelligence. Clients gain fuller visibility, truer
insight and more effective control over what matters most - what
Kalibrate calls Your Adaptive Edge(TM).
Headquartered in Manchester, United Kingdom and Florham Park,
New Jersey, Kalibrate has centers of excellence in Mumbai, India;
Tulsa, Oklahoma; and Melbourne, Australia as well as offices in 10
other countries. For more information, visit kalibrate.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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