StockMarketWire.com - accesso Technology Group has completed an early renewal of and extension to its banking facility with Lloyds Bank. This replaces the previous $22m facility, which was subject to a step down to $8m in November 2016 and provides an increased drawdown facility of $25m, plus an additional $10m for potential M&A investments.

The new facility improves the flexibility with which the Group can consider future product or M&A investments, in-line with its stated strategy. It includes no step downs, is provided at an improved drawdown rate of 1.35% above LIBOR and is also provided with improved covenants and at an improved commitment rate.

The new facility - which is secured on accesso's assets and IP in the US and UK, which was consistent with the previous facility - terminates on 11 March 2019, but provides for the opportunity to further extend to 11 March 2020. The previous facility was due to expire on 31 December 2017.


At 8:05am: [LON:ACSO] Accesso Technology Group share price was 0p at 940p



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