CLIQ Digital AG announced it has entered into an amendment and restatement to the company's current credit facility with Commerzbank and Deutsche Bank. This resulted in a 24 million increase, bringing CLIQ Digital's credit facility to 37.5 million, with an option after one-year to increase the facilities with another 20 million, bringing the total credit line up to 57.5 million. The financing was secured with a syndicate of Commerzbank AG and Deutsche Bank AG.
CLIQ Digital plans to use the facility to fund its strong growth perspective as well as potential acquisition opportunities and general corporate purposes. The new credit facility of 37.5 million includes a further 20 million optional facility and will be available for a period of three years plus two one-year extension options. The facility comes with customary covenants for the size and type of CLIQ Digital's business.
The interest rates charged for the facilities are in line with market standards and lower than the previous facility agreements.