Information  X 
Enter a valid email address

Corero Network Sec. (CNS)

  Print   

Thursday 08 April, 2021

Corero Network Sec.

New borrowings facility

RNS Number : 7450U
Corero Network Security PLC
08 April 2021
 

 

8 April 2021

Corero Network Security plc

("Corero" or the "Company")

 

New borrowings facility

 

Corero Network Security plc (AIM: CNS), a leading provider of real-time, high-performance, automatic Distributed Denial of Service (DDoS) cyber defense solutions, is pleased to announce that it has entered into a new borrowing facility for up to £3.0 million (c$.4.1 million) with its existing banking partner.  

 

The new borrowing facility comprises: a drawn £2.0m term loan facility and an undrawn £1.0m revolving credit facility; for a three-year term; with terms and conditions at par or better than the existing facility.  The net proceeds of this new facility will be used for working capital purposes and the Company's on-going investment programme to support Corero's growth strategy through to  profitability.

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

 

Enquiries:

 

Corero Network Security plc

 

Lionel Chmilewsky, Chief Executive Officer

 Tel: +44(0)1895 876 382

Neil Pritchard, Group Finance Director

 

 

 

C anaccord Genuity Limited 

(Nominated Adviser and Broker)

 Tel: +44(0)20 7523 8000

Simon Bridges / Andrew Potts

 

 

 

Vigo Communications

 Tel: +44(0)20 7390 0230

Jeremy Garcia / Antonia Pollock

 

[email protected]

 

 

About Corero Network Security

 

Corero Network Security plc is a global leader in real-time, high-performance, automatic DDoS cyber defense solutions. Both Service and Hosting providers, alongside digital enterprises across the globe rely on Corero's award winning cybersecurity technology to eliminate the threat of Distributed Denial of Service (DDoS) to their digital environment through automatic attack detection and mitigation, coupled with network visibility, analytics and reporting. Corero's industry leading SmartWall and SecureWatch technology provides scalable protection capabilities against external DDoS attackers and internal DDoS botnets in the most complex edge and subscriber environments, while enabling a more cost-effective economic model than previously available. Corero's key operational centers located in Marlborough, Massachusetts, USA and Edinburgh, UK, with the Company's headquarters in Amersham, UK. The Company is listed on the London Stock Exchange's AIM market under the ticker CNS.  For more information, visit       www.corero.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCDKOBDOBKDKQK

a d v e r t i s e m e n t