StatPro Group (StatPro), an AIM-listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has increased and extended its financing facilities with Wells Fargo Capital Finance. 

The facility has been increased by adding an additional GBP5.2 million of committed facility and an additional GBP6 million of uncommitted capital. This secured financing facility is available for acquisitions, share buy-backs and general corporate purposes. 

Following the increase, the total facilities are approximately GBP49.1 million and comprise: GBP10 million committed revolving credit facility, GBP29.1 million committed term/deferred drawdown multi-currency loans, and GBP10 million uncommitted additional facility available.

The term for the committed facility has been extended to April 2024, subject to compliance with agreed covenants, primarily linked to recurring revenue, adjusted EBITDA and available liquidity. The financing costs are being amortised over the term of the loan. 

Justin Wheatley (pictured), Group CEO, StatPro, says: “This increase and extension in our flexible financing facilities provide additional capacity for financing future acquisitions and also further strengthens the Group’s long-term financial structure.”