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Keywords Studios completes 75m revolving credit facility
Keywords Studios on Tuesday said it had finalised terms on a new three-year 75m revolving credit facility.
The AIM-listed technical services provider to the video games industry, said the loan facility, provided by Barclays, HSBC and Lloyds had an option to extend the facility up to 105m and by two years. It replaces the existing 35m facility and is on improved terms, Keyword said.
Chief executive Andrew Day said the deal allowed the company to maintain a "conservative mix of equity and debt funding to support our investments in both the underlying business and new activities".
"We have made four acquisitions to date this year and, over the last 12 months, we have invested to substantially expand our capacity across six existing and five new facilities."
"We are reviewing a strong pipeline of acquisition candidates and organic investment opportunities as we continue to build our business organically and through acquisition. This facility gives us the flexibility and headroom to act on our investment decisions whilst continuing to enhance shareholder value."