Marlowe enters new, larger debt facility

Regulatory software and services company Marlowe has entered into a new, enlarged debt facility, it announced on Thursday.

The AIM-traded firm said the new unsecured debt facility would replace its existing facility, and increase its total committed facility to £180m from £130m, in addition to a further £60m uncommitted accordion.

It said the facility involved a banking syndicate of six banks, and would have an initial three-year term with two optional annual extensions.

“The increased debt capacity provided by the new facility will provide further resources as the group continues to deliver upon its ongoing growth strategy,” the Marlowe board said in its statement.

At 1121 GMT, shares in Marlowe were down 1.13% at 876p.