ASK4 has completed a £170m refinancing agreement with a new capex facility put in place to support the company’s continued expansion across the UK and Europe.
The new facility replaces existing debt on improved terms and is backed by a syndicate of lenders. The deal reduces ASK4’s interest costs and strengthens free cashflow, while the new capex facility provides the capital headroom to accelerate growth, enhance digital infrastructure and continue improving services for the residents and building operators ASK4 serves.
Andrew Dutton, CEO of ASK4, said: “This refinancing is a significant step for ASK4. Securing infrastructure-grade financing of this scale, and on these terms, is a strong endorsement of our strategy and the quality of what we’ve built. The strong demand from lenders, resulting in an oversubscribed facility, is a clear signal of real confidence in our business and our plans.
“It gives us a stronger balance sheet, a lower cost of capital, and through the new capex facility the investment capacity to keep forging ahead, investing in our services, and delivering the connected experiences our customers depend on. I’d like to thank our lenders, both new and existing, and our advisers for their support in reaching this milestone.”
Evercore acted as financial adviser to ASK4 with Clifford Chance serving as legal counsel. PwC provided financial and commercial due diligence. Latham & Watkins acted as legal counsel to the lending syndicate.
