Endava swaps to syndicated sterling borrowing
The UK’s Endava has signed a new £200m-equivlanet multicurrency facility, with the software development company swapping a bilateral loan for syndicated lending.
Endava’s new facility has a three year maturity. It comes with an accordion feature allowing the borrower to increase the size by up to £75m.
HSBC, DNB, Keybank National Association and Silicon Valley Bank are mandated lead arrangers in the deal, with HSBC acting as the agent.
The loan replaces ...