New Revolving Credit Facility

RNS Number : 2610Q

Keywords Studios PLC

05 June 2018

 

05 June 2018

Keywords Studios plc ("Keywords", "the Group")

New Revolving Credit Facility for up to €105m agreed

Keywords Studios, the international technical services provider to the global video games industry, today confirms the completion of a new revolving credit facility, in line with the terms outlined in the Group's full year results announcement on 9 April 2018. 

The new facility is being provided by Barclays Bank plc, HSBC Bank plc and Lloyds Banking Group plc for an initial €75m over a three-year term, with the option to extend the facility up to €105m and by a further two years. It replaces the existing €35m facility and is on improved terms.

Andrew Day, Chief Executive of Keywords Studios, commented:

"We are pleased to have finalised this significantly expanded facility, on terms which improve upon our previous arrangement, in line with our intention of maintaining a conservative mix of equity and debt funding to support our investments in both the underlying business and new activities.  

"We have made 4 acquisitions to date this year and, over the last twelve 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."

For further information, please contact:

Keywords Studios (www.keywordsstudios.com) Andrew Day, Chief Executive Officer David Broderick, Chief Financial Officer	[phone]
Numis (Financial Adviser) Stuart Skinner / Kevin Cruickshank (Nominated Adviser) James Black / Tom Ballard (Corporate Broker)	020 7260 1000
MHP Communications (Financial PR) Katie Hunt / Ollie Hoare	020 3128 8100 [e-mail]

About Keywords Studios (www.keywordsstudios.com)

Keywords Studios is an international technical services provider to the global video games industry. Established in 1998, and now with over 40 facilities in 20 countries strategically located in Asia, the Americas and Europe, it provides integrated art creation, software engineering, testing, localisation, audio and customer care services across more than 50 languages and 16 games platforms to a blue-chip client base of approximately 650 clients across the globe.  It has a strong market position, providing services to 23 of the top 25 most prominent games companies, including Activision Blizzard, Bandai Namco, Bethesda, Electronic Arts, Konami, Riot Games, Sony, Square Enix, Supercell, TakeTwo, and Ubisoft. Recent titles worked on include Uncharted 4: A Thief's End, Call of Duty: WWII, Mortal Combat X, Assassin's Creed Origins, Battlefield 1, League of Legends, Fortnite, Clash Royale, and Mobile Strike. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).

 

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