NCC agrees £162m credit facility to fund growth
Manchester based cyber security business NCC Group has agreed a new four-year £162.5m multi-currency revolving credit facility with four banks.
The facilities with NatWest, HSBC, ING Bank and new lender Fifth Third Bank will fund organic and inorganic opportunities as they arise, said chief financial officer Tim Kowalski.
He said: “This new facility, which adds another established institutional lender to our banking group, will provide NCC Group with additional firepower and flexibility as we evolve our strategy in 2023.”
The refinancing, which matures in December 2026, has an additional £75m uncommitted accordion option.
The facilities replace NCC’s previous £100m revolving credit facility and $70m term loan, which had an expiry date of June 2024.
