Endava swaps to syndicated sterling borrowing

Pound Coins
By Mike Turner
15 Oct 2019

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 ...

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