Try our mobile app
Datatec Limited (JSE:DTC) News - Westcon Europe - Banking facilities increase
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or “the Group”)
WESTCON EUROPE - BANKING FACILITIES INCREASE
Datatec, the international Information and Communications Technology (ICT) company, announces
significant enhancements to the banking facilities of its subsidiary, Westcon International Limited’s
European subsidiaries (“Westcon Europe”).
As announced on 4 August 2020, Westcon Europe has a EUR 275 million facility with a European
banking syndicate, led by Crédit Agricole Leasing & Factoring (“CAL&F”).
The main CAL&F facility has been increased by EUR100 million to EUR375 million (approximately
US$420 million) and now also covers Switzerland and Austria. A parallel but stand-alone EUR16
million facility has also been added for Portugal, such that the total capacity available to Westcon
Europe is EUR391 million (approximately US$435 million).
Pricing remains unchanged in relation to base rate indices changes and the enhancements translate
to additional liquidity which is immediately accessible.
Jens Montanana, Datatec CEO commented:
“The increase in Westcon Europe’s working capital facilities is a testament to the resilience of its
improved performance and will further enhance Westcon’s liquidity and credit standing while
adding flexibility to manage the persisting supply-chain issues resulting from the semi-conductor
shortage.”
Johannesburg
1 March 2022
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01-03-2022 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
