Regulatory Story
Go to market news section View chart   Print
Escher Group Holdings PLC  -  ESCH   

US$12 million banking facility

Released 07:00 09-Oct-2013

RNS Number : 0423Q
Escher Group Holdings PLC
09 October 2013

9 October 2013


Escher Group Holdings plc


US$12 million banking facility


Escher Group Holdings plc, (AIM: ESCH, "Escher" or "the Group"), a world-leading provider of outsourced, point of sale software to the postal industry, has agreed a revised banking facility with Bank of Ireland Corporate Banking comprising a US$9.0 million five year term loan facility and a revolving 12-month facility for US$3.0 million.


The facilities have been put in place. The term loan extends the maturity of the Group's facilities for more than 3 years to October 2018 and also reduces the annual capital repayment from over $3.3m pa to $1.0m pa. It has a margin over US$ LIBOR of 375 basis points; the 12-month revolver has a margin over US$ LIBOR of 325 basis points. 


Prior to this amended facility Escher had outstanding loans of US$8.5 million loan facilities with Bank of Ireland.


Liam Church, Escher's CEO said:


"This new facility will significantly improve the maturity profile of our debt, assisting the business in this phase of rapid growth. We welcome the support we have had from the Bank of Ireland as we continue our development." 






+353 (0)1 254 5400

Liam Church, Chief Executive Officer

Jonathan O'Connell, Finance Director

Fionnuala Higgins, EVP Sales & Marketing

Panmure Gordon

+44 (0)20 7886 2500

Andrew Godber / Callum Stewart

College Hill

+44 (0)20 7457 2020

Adrian Duffield/Rozi Morris


About Escher Group


Escher is a world leading developer and provider of outsourced, point-of-service software for use in the worldwide postal industry. Its core software, RiposteEssential™, enables post offices to expand upon their traditional offering, providing additional new services, reducing costs and increasing efficiency. Riposte® is a messaging middleware that enables applications operating on different computers to communicate with each other. The Riposte® software manages data, monitors the system status and communicates across the network. Escher Group operates across two divisions - a Retail Software Division and a Message Based Communications Division.


The Retail Software Solution (RiposteEssential™) serves the postal and courier markets. Transactions include mail and financial services and the system is integrated with utilities and financial services companies, banks and central and local governments.


Escher's Message Based Communications Division (RiposteTrEx™) is based on a digital post office box model and is designed to provide a national digital infrastructure linking governments, businesses and citizens via a secure platform.

This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


US$12 million banking facility - RNS