First Derivatives signs £130m loan at tighter margin

technology fintech data adobe stock
By Mike Turner
06 Feb 2019

First Derivatives, a UK technology company, has signed £130m of bank facilities, earmarking some of the funds to refinance an acquisition agreed last summer.

The five year deal comprises a £65m term loan and £65m revolving credit facility. 

First Derivatives will use some of the funds to refinance debt related to its acquisition of the minority shareholding in Kx Systems, a data analysis software company, in June. 

The new loan pays Libor plus 275bp. Like ...

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