Endava secures £350Mn credit facility
LONDON, UNITED KINGDOM — Software development outsourcing firm Endava announced that it has closed on a £350 million (US$423 million) unsecured, multicurrency revolving credit facility for general business purposes.
This replaced its existing facility due to expire in 2024.
The new facility is with HSBC UK Bank, DNB (UK) Limited, National Westminster Bank, Banco Bilbao Vizcaya Argentaria, S.A., London Branch, KeyBank National Association, and Fifth Third Bank, National Association as mandated lead arrangers, book-runners, and original lenders with National Westminster Bank acting as an agent.
“This new and increased credit facility is intended to support Endava’s future capital investments and development activities, both organic and inorganic,” said Endava’s CFO, Mark Thurston.
The facility provides for uncommitted accordion options for up to an aggregate of £150 million (US$181 million) in additional borrowing.
