New Revolving Credit Facility for up to EUR 140m
14 October 2019
Keywords Studios plc ("Keywords", "the Group")
New Revolving Credit Facility for up to €140m secured
Keywords Studios, the international technical and creative services provider to the global video games industry, today confirms the completion of a new revolving credit facility, in line with the agreed terms outlined in the Group's half year results announcement on 18 September 2019.
The new facility is being provided by Barclays Bank plc, Citibank N.A., HSBC and Silicon Valley Bank for an initial €100m over a three-year term, with the option to extend the facility up to €140m and by a further two years. It replaces the existing €105m facility.
Andrew Day, Chief Executive of Keywords Studios, commented:
"We are pleased to have finalised this facility which is a significant expansion on our previous arrangement and remains in line with our intention of maintaining a conservative mix of equity and debt funding.
"This facility gives us further flexibility and headroom to invest in building our business both organically and through acquisition.
"We continue to review a strong pipeline of acquisition candidates that want to join our leading, diversified platform for services to the global video games industry and we will continue to select high calibre businesses that enable us to scale up to capture a greater proportion of our clients' increasing demand for outsourced games' development and support."
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Andrew Day, Chief Executive Officer
Jon Hauck, Chief Financial Officer
Joseph Quinn, Investor Relations
+353 190 22 730
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
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 50 facilities in 21 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 950 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, Microsoft, Riot Games, Square Enix, Supercell, TakeTwo, Epic Games and Ubisoft. Recent titles worked on include Call of Duty: Black Ops 4, Mortal Combat X, Assassin's Creed Odyssey, Borderlands 3, League of Legends, Fortnite, Clash Royale and Rainbow Six Siege. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).
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Quick facts: Keywords Studios PLC
Market Cap: £850.43 m
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