GlobalData secures new £75m banking facility

AIM-listed GlobalData has announced a new £75m, five-year committed banking facility.

The facility consists of a £30m term loan to replace the existing facilities held with the Royal Bank of Scotland, and a revolving credit facility of £45m.

The group will also have available a £25m accordion facility providing significant additional funding capability for future investment.

The company said the banking arrangements - with RBS, HSBC and Bank of Ireland - will provide it with significant available liquidity to fund potential future acquisitions.

Executive Chairman Bernard Cragg said: "The new facilities provide the group with enhanced liquidity which gives us greater flexibility to look at potential acquisitions in the future. We are very pleased to have received such strong support from both our existing bank, the Royal Bank of Scotland, and our new lenders."

At 1555 BST, the shares were flat at 530p.