Acquisitive Keywords Studios PLC (LON:KWS) said it has completed the new revolving credit facility it flagged in its results statement in April.
The new facility is for an initial €75mln over a three-year term, with the option to extend the facility up to €105mln and by a further two years. It replaces the existing €35mln facility and is on improved terms.
READ: Keywords Studios buys video game trailers specialist for £5.2mln
Andrew Day, the chief executive of the international technical services provider to the global video games industry, said the new facility was in line with the group's intention to maintain a conservative mix of equity and debt funding.
"We have made four 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,” Day noted.
"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," he added.
Investors current enthusiasm for all things video gaming related has certainly helped the @KeywordsStudios share price and the recent AIM IPOs of video game developers @Team17Ltd and @Codemasters have gone down well https://t.co/5qLzgb7Xe8 pic.twitter.com/p45oxf1iRo
— Investor's Champion (@investchampion) June 4, 2018