Successful Completion of Refinancing

RNS Number : 7489E

CentralNic Group PLC

31 October 2022

 

31 October 2022

CentralNic Group plc  

("CentralNic" or the "Company", or the "Group") 

Successful Completion of Refinancing

CentralNic Group Plc (AIM: CNIC), the global internet platform that derives recurring revenue from marketplaces for online presence and online marketing service s,  is pleased to announce that further to the announcement made on 17 October 2022, the Company has now completed on its refinancing. As part of this, CentralNic has a new USD 250 million Senior Facilities Agreement ("SFA").

The SFA comprises of a USD 150 million term loan ("TL") and a USD 100 million committed revolving credit facility ("RCF") and provides a notable reduction in borrowing costs to the Group. Funds from the TL have been used to fully repay CentralNic's EUR 126 million senior secured bonds as well as repay drawings under the Group's previous revolving credit facility. CentralNic's new RCF is available for general corporate purposes, including M&A.

Michael Riedl, CFO of CentralNic, said : "The new senior facilities agreement reduces CentralNic's cost of capital and further augments the Company's capacity to continue to execute its roll-up strategy. It is a great vote of confidence by our financing partners and a testament to the resilience of our business model as well as our disciplined approach to capital allocation. We remain focused on executing our strategy and welcome the new syndicate of banks to working with the Group."

For further information:  

CentralNic Group Plc Ben Crawford, Chief Executive Officer Don Baladasan, Group Managing Director Michael Riedl, Chief Financial Officer	[phone]
Zeus (NOMAD and Joint Broker) Nick Cowles / Jamie Peel / James Edis (Investment Banking) Dominic King (Corporate Broking)	[phone] [phone]
Berenberg (Joint Broker) Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff	[phone]
SEC Newgate (for Media) Bob Huxford / Isabelle Smurfit / Max Richardson	[phone] [e-mail]

 About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing online marketplaces allowing businesses globally to buy subscriptions to domain names for websites and email, monetise their websites, and acquire customers online. Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms. 

For more information please visit: www.centralnicgroup.com 

 

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