Identity specialist GB Group plc has announced a £175 million refinancing deal.
The business, led by CEO Dev Dhiman (pictured), signed the revolving credit facility with major banks after reporting a large drop in six-month profits late last year.
The new facility will mature in September 2030, replacing the existing secured facility due to mature in July 2027. In addition, the new RCF contains two optional one-year maturity extension options.
The facility has been arranged with a syndicate comprising existing and new lending partners, including HSBC Innovation Bank Ltd, National Westminster Bank plc, Barclays Bank plc and Fifth Third Bank, National Association.
In its most recent published results, for the six months ended 30th September 2025, GBG said operating profit fell 29% to £6.7m while profit before tax dropped 27% to £4.1m. Revenue for the period fell 1% to £135.5m.
In November it also announced a £10m extension of its share repurchase programme. It made £17m of share buybacks in the first half with an additional £18m committed until 30th November 2025.
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“I am pleased that we have successfully refinanced our RCF at similar commercial terms to our existing facility but for a longer tenure,” CFO David Ward said today.
“This secures our capital structure for an extended period while providing enhanced flexibility to support the continued execution of our strategic objectives.”
GBG expects to release its full year trading update for the year ended 31st March 2026 on Wednesday 22nd April.