Endava (NYSE: DAVA), along with Endava (UK) Limited, Endava Inc. (the “Original Borrowers”) and Endava LLC (together with the Original Borrowers, the “Original Guarantors”) entered into a new multicurrency revolving credit facility (the “Multicurrency Revolving Credit Facility”) with HSBC Bank plc as agent (the “Agent”), HSBC UK Bank plc, DNB (UK) Limited, Keybank National Association and Silicon Valley Bank as mandated lead arrangers, bookrunners and original lenders (the “Mandated Lead Arrangers” and the “Original Lenders”), the company said.
The Multicurrency Revolving Credit Facility is an unsecured revolving credit facility in the amount of £200 million with an initial period of three years, and it replaces the existing £50 million secured facility with HSBC UK Bank Plc. The Multicurrency Revolving Credit Facility also provides for uncommitted accordion options for up to an aggregate of £75 million in additional borrowing. The Multicurrency Revolving Credit Facility is intended to support the company´s and its subsidiaries´ future capital investments and development activities.
Endava is a next-generation technology services provider and helps accelerate disruption by delivering rapid evolution to enterprises. Using distributed enterprise agile at scale, Endava collaborates with its clients, seamlessly integrating with their teams, catalysing ideation and delivering robust solutions. Endava helps its clients become digital, experience-driven businesses by assisting them in their journey from idea generation to development and deployment of products, platforms and solutions.