EnSilica PLC - Oxfordshire, England-based chip maker of mixed signal application specific integrated circuits, or ASICs - Secures new debt facility to refinance its existing external loan facilities. Facility provides total funding of up to £9 million and extends to November 2029. ‘The facility has been agreed with Lloyds Bank Group PLC, providing the company with additional flexibility to underpin ongoing working capital commitments, and ensuring that EnSilica can fully capitalise on its existing new business pipeline,’ EnSilica adds. The financing includes a three-year £3 million repayment term loan facility and a five-year £3 million revolving credit facility with an accordion option for an additional £3 million.

‘Th facility also improves the borrowing costs of the company. The facility agreements contain normal market terms and financial covenants,’ EnSilica adds.

Current stock price: 51.50 pence

12-month change: down 24%

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