KWS Keywords Studios Plc

TIDMKWS

RNS Number : 7016P

Keywords Studios PLC

14 October 2019

14 October 2019

Keywords Studios plc ("Keywords", "the Group")

New Revolving Credit Facility for up to EUR140m secured

Keywords Studios, the international technical and creative services provider to the global video games industry, today confirms the completion of a new revolving credit facility, in line with the agreed terms outlined in the Group's half year results announcement on 18 September 2019.

The new facility is being provided by Barclays Bank plc, Citibank N.A., HSBC and Silicon Valley Bank for an initial EUR100m over a three-year term, with the option to extend the facility up to EUR140m and by a further two years. It replaces the existing EUR105m facility.

Andrew Day, Chief Executive of Keywords Studios, commented:

"We are pleased to have finalised this facility which is a significant expansion on our previous arrangement and remains in line with our intention of maintaining a conservative mix of equity and debt funding.

"This facility gives us further flexibility and headroom to invest in building our business both organically and through acquisition.

"We continue to review a strong pipeline of acquisition candidates that want to join our leading, diversified platform for services to the global video games industry and we will continue to select high calibre businesses that enable us to scale up to capture a greater proportion of our clients' increasing demand for outsourced games' development and support."

-Ends-

For further information, please contact:

 
Keywords Studios (www.keywordsstudios.com) 
 Andrew Day, Chief Executive Officer 
 Jon Hauck, Chief Financial Officer 
 Joseph Quinn, Investor Relations                +353 190 22 730 
 
  Numis (Financial Adviser) 
  Stuart Skinner / Kevin Cruickshank 
  (Nominated Adviser) 
  James Black / Tom Ballard (Corporate 
  Broker)                                          020 7260 1000 
 
  MHP Communications (Financial PR)                020 3128 8100 
  Katie Hunt / Ollie Hoare                     keywords@mhpc.com 
 

About Keywords Studios (www.keywordsstudios.com)

Keywords Studios is an international technical services provider to the global video games industry. Established in 1998, and now with over 50 facilities in 21 countries strategically located in Asia, the Americas and Europe, it provides integrated art creation, software engineering, testing, localisation, audio and customer care services across more than 50 languages and 16 games platforms to a blue-chip client base of approximately 950 clients across the globe.

It has a strong market position, providing services to 23 of the top 25 most prominent games companies, including Activision Blizzard, Bandai Namco, Bethesda, Electronic Arts, Konami, Microsoft, Riot Games, Square Enix, Supercell, TakeTwo, Epic Games and Ubisoft. Recent titles worked on include Call of Duty: Black Ops 4, Mortal Combat X, Assassin's Creed Odyssey, Borderlands 3, League of Legends, Fortnite, Clash Royale and Rainbow Six Siege. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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