Inspired PLC (AIM:INSE) said it has renewed its revolving credit facility with its existing banks on broadly the same terms.
The new £60 million borrowing facility from Santander and Bank of Ireland (LSE:BKIR) has a three-year term and is the same size as that which it replaced, but with a £25 million accordion option.
Inspired said the margin spread over SONIA is "broadly in line" with its current facility but scales down according to the level of adjusted net leverage as to the board's aims to reduce adjusted net leverage significantly over the term of the facility.
Chief financial officer Paul Connor said: "The facility continues to provide the group with the headroom and flexibility to execute on our organic growth strategy as we seek to capitalise on the substantial opportunity within the Optimisation and ESG divisions.
“The facility has been structured to align with the board's focus on cash generation and ambition to reduce adjusted leverage to below 1.00x of adjusted EBITDA."