Ascential plc announced that it has agreed a new, four-year, multi-currency revolving credit facility of £200 million with a syndicate of banks. This new facility will become effective when Ascential's existing £450 million RCF is fully repaid and cancelled following the completion of the Digital Commerce sale. The new facility includes an accordion to raise additional debt amounts of up to £25 million by March 2024 and further amounts of up to £75 million over the life of the facility.

Borrowings will be subject to interest at a margin over the relevant currency market interest rate dependent on leverage, with margins of between 2.25-2.50% at leverage levels of 1.0-2.0x. The facility covenants include a maximum net leverage ratio of 3.0x and a minimum interest cover of 3.0x and are tested semi-annually.