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On November 4, 2024, EnSilica plc announced it secured a new debt facility with Lloyds Bank Group plc for up to £9 million, extending to November 2029. The facility consists of a £3 million three-year repayment term loan and a £3 million five-year revolving credit facility with an accordion option for an additional £3 million.
| Date | 4 Nov 2024 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 7543K |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation.
4 November 2024
EnSilica plc
("EnSilica", the "Company" or the "Group")
New Debt Facility
EnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has secured a new debt facility to refinance its existing external loan facilities, providing total funding of up to £9 million and extending out to November 2029 (the "Facility").
The Facility has been agreed with Lloyds Bank Group plc, providing the Company with additional flexibility to underpin ongoing working capital commitments, and ensuring that EnSilica can fully capitalise on its existing new business pipeline.
The Facility consists of a three-year £3 million repayment term loan facility and a five-year £3 million revolving credit facility with an accordion option for an additional £3 million subject to credit approval by the lender. The Facility also improves the borrowing costs of the Company. The Facility agreements contain normal market terms and financial covenants.
Kristoff Rademan, Chief Financial Officer of EnSilica, commented:
"We are delighted to have secured a new debt financing package for the business, which strengthens our underlying finances and supports our working capital commitments going forward."
For further information please contact:
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EnSilica plc Ian Lankshear, Chief Executive Officer Kristoff Rademan, Chief Financial Officer |
via Vigo Consulting +44 (0)20 7390 0233 |
|
Allenby Capital Limited, Nominated Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)
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+44 (0)20 3328 5656 |
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Singer Capital Markets, Joint Broker Rick Thompson / Asha Chotai
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+44 (0)20 7496 3000 |
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Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kendall Hill / Anna Stacey |
+44 (0)20 7390 0233 ensilica@vigoconsulting.com |
The person responsible for arranging release of this announcement on behalf of the Company is Kristoff Rademan, Chief Financial Officer.
About EnSilica
EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in Bangalore, India and Porto Alegre, Brazil.