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Micro Focus Int plc - Proposed term loan refinancing

RNS Number : 9089N
Micro Focus International plc
26 May 2020

26 May 2020



Micro Focus International plc

Proposed term loan refinancing


Micro Focus International plc ("Micro Focus") today announces the launch of a Euro 400m and a USD 400m Senior Secured Term Loan B (together, the "Facilities") to partly refinance its existing Senior Secured Term Loan B due November 2021 and pay associated fees and expenses (the "Transaction").

As part of the Transaction, the Board confirms the final dividend for the year ended 31 October 2019, which was previously withdrawn, will not now be paid.  The Board instead intends to use $150.0 million of existing cash reserves to pay down part of the existing Senior Secured Term Loan B due November 2021.

The initial price talk for the new 5-year Facilities is anticipated to be 4.50% above EURIBOR at an original issue discount of 3.0% on the Euro Tranche, and 4.50% above LIBOR at an original issue discount of 3.0% on the US Dollar denominated tranche.

An update will follow in due course.







Micro Focus                                                         Tel: +44 (0)1635 32646

Stephen Murdoch, CEO                                        [email protected]

Brian McArthur-Muscroft, CFO

Ben Donnelly, Investor relations



Brunswick                                                           Tel: +44 (0) 20 7404 5959

Sarah West                                                           [email protected]

Jonathan Glass   





Notes to Editors:

About Micro Focus

Micro Focus (LSE: MCRO.L, NYSE: MFGP) is a global enterprise software company supporting the technology needs and challenges of the Global 2000.  Our solutions help organizations leverage existing IT investments, enterprise applications and emerging technologies to address complex, rapidly evolving business requirements while protecting corporate information at all times. Our product portfolios are Security, IT Operations Management, Application Delivery Management, Information Management & Governance and Application Modernization & Connectivity. For more information, visit: www.microfocus.com











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Quick facts: Micro Focus International plc

Price: 228

Market: LSE
Market Cap: £763.38 m

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