StockMarketWire.com - Enterprise software company Micro Focus International has announced the extension of its revolving credit facility (RCF) to June 2024 and said the board has undertaken a review of its borrowing requirements in light of strong cash generation.

The company said that the board has elected to repay the $175million of the RCF which was previously drawn as a precautionary measure in March 2020, and has reduced the size of the RCF to $350m, thereby reducing the company's gross debt and costs associated with the facility.

As at 31 August 2020, the group reported it had cash and cash equivalents of approximately $700m, which combined with the extended facility provides it with total liquidity of approximately $1,050m, with no maturity dates on the facilities prior to June 2024.


At 8:07am: [LON:MCRO] Micro Focus International PLC share price was +8.65p at 300.05p



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