Escher, a world-leading provider of outsourced,
point-of-sale software to the postal industry, is pleased
to announce that it has today put in place a US$9.7 million
term loan facility and a revolving 12-month facility for
US$1.8 million.
The term loan, which will mature in July 2015, has a margin
over US$ LIBOR of 325 basis points; the 12-month revolver
has a margin over US$ LIBOR of 300 basis points. The
facilities have been put in place with Bank of Ireland
Corporate Banking.
The new facilities will enable Escher to refinance its
existing US$8.4 million term loan, which has been repaid in
full and cancelled. Escher has also today repaid all of its
remaining US$3.4 million debt to Bacchantes Limited.
Commenting on this refinancing, Liam Church, Escher's CEO
said: 'this funding by Bank of Ireland demonstrates
confidence in the Escher business model and we welcome this
support and the opportunity to develop a mutually
beneficial relationship with Bank of Ireland in the coming
years. These arrangements will significantly reduce
Escher's cost of funding and improve the maturity profile
of its debt and assist the growth of the business.'
About Escher
Escher is a world leading provider of outsourced, point of
sale software to the postal industry. Escher's core
software, Riposte, provides a solution for postal
authorities who are seeking to counteract a decrease in
traditional mail revenue by expanding revenue opportunities
through new services, thereby reducing cost and increasing
efficiency.
Postal authorities' software requirements have become more
complex, leading to a growing trend towards outsourcing.
Riposte is already in use in 30 countries and territories
worldwide. It is licensed for over 150,000
workstations.
The Group is targeting continued growth through incremental
sales to existing customers, new sales within the postal
industry, penetration of new vertical markets and through
the launch of its revolutionary new product,
RiposteTrEx.
distribué par | Ce noodl a été diffusé par Escher Group Holdings plc et initialement mise en ligne sur le site http://www.eschergroup.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-05 18:41:03 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |