Member Article

Idox agrees £40 million banking facility deal with RBS and SVB

Reading-based document management company Idox has entered into four year banking facility deal with Royal Bank of Scotland and Silicon Valley Bank.

The facility, which will be worth £40 million, includes a term-loan of £17 million and £23 million revolving credit facility, split £25 million with RBS and £15 million with Silicon Valley Bank.

Jane Mackie, Idox CFO said: “In choosing new finance partners we wanted to work with institutions which have an understanding of our industry and how Idox is placed within it, while also having a demonstrable track record of delivery.

“We have been impressed with the team’s knowledge at RBS and SVB and the support we have been given enabling us to deliver the financing Idox needs. Both RBS and SVB have taken the time to understand what is important to us and we are looking forward to working closely with them as our new banks.”

This was posted in Bdaily's Members' News section by Ellen Forster .