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Nexxen International repays $100m of debt
(Sharecast News) - Connected TV advertising technology specialist Nexxen International said in an update on Wednesday that it repaid its outstanding debt under the secured term loan 'A' and the revolving credit facility on 9 April. The AIM-traded firm had entered into the credit agreement on 12 September 2022.
It said it had also amended the credit agreement to facilitate the implementation of the previously-announced $50m ordinary share repurchase program on 15 March 2024.
The repayment to the lenders under the agreement amounted to $100m, effectively fulfilling all of Nexxen's debt obligations under the term A secured loan, totaling $90m, and the previously drawn down amount of $10m under the revolving credit facility.
Nexxen said it did not incur any early termination penalties due to the debt repayment.
Following repayment, Nexxen said it maintained access to the $90m revolving credit facility, with no funds drawn as of the current date.
At 1247 BST, shares in Nexxen International were up 2.42% at 212p.
Reporting by Josh White for Sharecast.com.
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