Integritie: Rosslyn Data Tech refinances debt it assumed as part of the April 2017 acquisition of Integritie

Rosslyn Data Technologies PLC (LON:RDT) has inked a refinancing deal which will cover the debt it assumed as part of its acquisition of Integritie (UK) Limited in April 2017 and provide it with some working capital. The AIM-listed global big data technology company said the new three-year £1.5mln secured debt facility is with Clydesdale Bank and is on equivalent terms, with an interest rate of 7.75% plus 3 month LIBOR. READ: Rosslyn Data clinches three contracts worth over £500,000 It added that, of the amount, £1.0mln will be drawn down immediately and used to repay the Integritie Debt of £0.75mln, the majority of which was maturing this year. The group said repayment of the £1.0mln will be made over 11 equal quarterly instalments, starting on 28 September 2019, and with any other drawings to be repaid by 28 March 2022. The balance of the new facility is expected to be used for working capital purposes, the company added Roger Bullen, Rosslyn's CEO commented: "The refinancing of the Integritie Debt and conclusion of outstanding earn-out provisions now ends all financing arrangements with the vendors of Integritie. "The Rosslyn business continues to perform and I look forward to releasing a trading update in May."