News and Announcements
Crowd Mobile Executes Term Sheet for Debt Financing
- Published August 25, 2015 5:14PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
25th August 2015, ASX Announcement
Crowd Mobile (ASX : CM8 & FWB-XETRA : CM3) is pleased to announce that it has executed a term sheet with a European-based finance company regarding the provision of senior debt financing for purpose of funding the Track Holdings (“Track”) acquisition.
Whilst the detailed terms of the facility are confidential, the key points are summarised below:
- Initial Facility amount is for EUR 9m [AUD $14.5m]
- Facility is 3 year and revolving in nature, providing a flexible funding base for the business
Commenting on the executed term sheet, Chief Executive Officer Domenic Carosa said:
” We are pleased to have executed a highly flexible and competitively priced financing package. This is a significant step forward as Crowd Mobile moves closer to finalising the Track acquisition.
“We are continuing to review a number of other proposals for additional funding options, and will provide further updates to the market at the appropriate time.”
To read the full announcement, please click here.
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