- Software company Micro Focus International launched a $1.44bn debt refinancing and extension of a $500m credit facility.

Proceeds of the senior secured term loan offering would be used to refinance an existing loan due November 2021.

The existing facility would be replaced with a new seven-year one and extend an existing $500m credit facility due September 2022 to June 2024.

Micro Focus International said initial price talk for the new facilities was anticipated to be between 3.25% and 3.50% above Euribor.

Initial expectations were also for an original issue discount of 0.5% on the Euro tranche and between 3.75% and 4.0% above Libor at an original issue discount of 1.0% on the US dollar tranche.

At 1:09pm: [LON:MCRO] Micro Focus International PLC share price was +14.3p at 800.6p

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