New Revolving Credit FacilitySource: RNS
23 December 2021
Keywords Studios plc ("Keywords Studios", "the Company")
New Revolving Credit Facility for up to €200 million
Keywords Studios, the international technical and creative services provider to the global video games industry, today confirms the completion of a new unsecured multicurrency revolving facility agreement ("RCF") with a syndicate of four lenders, which replaces the Company's previous €100 million secured revolving credit facility. The lender group is made up of Citi Commercial Bank, Fifth Third Bank, National Association, HSBC Continental Europe and ING Bank N.V., Dublin Branch.
The previous facility has been replaced with a €150 million RCF which is for an initial three-year tenor, with an option to extend the term by two further one-year periods at the Company's request, subject to lender consent. The new RCF has financial covenants that are consistent with the previous facility and also includes an additional €50 million uncommitted accordion.
Jon Hauck, Chief Financial Officer of Keywords Studios, commented:
"We are pleased to have finalised this RCF which gives us further flexibility and headroom to invest in growing Keywords Studios' business, both organically and through acquisition, as part our strategy to cement the group's position as the 'go to' technical and creative services platform for the global video games and adjacent content industries.
"We continue to review a strong pipeline of acquisition candidates and this RCF enables us to pursue our strategy whilst maintaining a conservative mix of equity and debt funding going forward."
For further information, please contact:
Keywords Studios (www.keywordsstudios.com)
Bertrand Bodson, Chief Executive Officer
Jon Hauck, Chief Financial Officer
Joseph Quinn, Investor Relations
+353 190 22 730
Stuart Skinner/Kevin Cruickshank/Will Baunton
+44 20 7260 1000
MHP Communications (Financial PR)
Katie Hunt/Charles Hirst
+44 20 3128 8193
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 70 facilities in 23 countries strategically located in Asia, Australia, the Americas and Europe, it provides integrated art creation, marketing services, game development, testing, localization, audio and player support services across more than 50 languages and 16 games platforms to a blue-chip client base of over 950 clients across the globe.
Keywords Studios has a strong market position, providing services to 23 of the top 25 most prominent games companies. Across the games and entertainment industry, clients include Activision Blizzard, Bandai Namco, Bethesda, Electronic Arts, Epic Games, Konami, Microsoft, Netflix, Riot Games, Square Enix, Supercell, TakeTwo, Tencent and Ubisoft. Recent titles worked on include Anthem, Star Wars Jedi: Fallen Order, Valorant, League of Legends, Fortnite, Clash Royale and Doom Eternal. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).