Leading the syndication for GlobalData’s upsized bank facilities

Formed in 2016, following the consolidation of several well-established data and analytics providers, GlobalData delivers intelligence and insight into the world’s largest industries.

GlobalData’s subscription-based ‘One Platform’ integrates the company’s entire universe of data, analysis, and innovative solutions, helping companies, government organisations and industry professionals make informed decisions.

In 2020, the UK-based company outlined its Growth Optimisation strategy, which focuses on sustainable growth delivered through four key pillars: “Customer Obsession”, “World-Class Product”, “Sales Excellence” and “Operational Agility”.

Seeking to refinance and upsize its core debt facilities to ensure sufficient liquidity for future acquisitions as part of the company’s growth strategy, GlobalData asked NatWest to support in the role of Mandated Lead Arranger, Facility Agent and Joint Bookrunner. NatWest had proactively pitched refinancing options to GlobalData based on market feedback the team had gathered; delivering insights into preferred transaction and syndication structures.

Proactively ascertaining market appetite paid off: lenders showed strong interest right from the start of the transaction, resulting in an oversubscription of the order book. GlobalData decided to upsize to a new three-year £410 million financing package, which comprises a £290 million Term Loan and a £120 million Revolving Credit Facility (increased from £250 million and £90 million respectively), with an option to extend further by a year.

Post allocations, nine new lenders joined the syndicate, alongside GlobalData’s four incumbent banks. NatWest also provided a tier one hold.

The successful outcome of the transaction allowed GlobalData to achieve all its objectives: 1) extending the maturity profile of its indebtedness; 2) increasing its access to liquidity; and 3) ensuring it has sufficient liquidity and flexibility to execute its acquisitive growth strategy. Furthermore, the new financing package means that GlobalData will save on interest costs.

Mike Danson, Chief Executive Officer of GlobalData, commented: “The new debt facility gives the Group additional firepower to execute against its stated M&A growth strategy over the medium term. Our Platform offers a significant opportunity to create shareholder value through strategic acquisitions and it is pleasing to have secured the financing to support this. We thank our existing lenders, who have all extended their support through participation in this issuance, plus our new lenders in a wider and marquee lender book.”

Graham Lilley, GlobalData’s CFO, added: “We are thrilled about the successful outcome of our refinancing and upsizing, which allows us to continue developing innovative products and solutions that can be catalysts for positive change. Many thanks to the NatWest team, who not only ensured we met all our financing objectives but also ensured we executed this deal within a very tight timescale thanks to a very well-run process.”

Richard Bradbury, Structured Finance at NatWest, said: “We are delighted to have been able to support GlobalData in arranging this new financing package, which has delivered attractively priced financing certainty in a volatile market – attracting a wide group of new lenders is testament to the GlobalData story and strength of management. This transaction is also an example of multiple specialist teams within NatWest working closely together to deliver market knowledge to deliver the best outcome for our customer.”

Paul Bocking, Relationship Manager at NatWest, added: “We have a longstanding relationship with GlobalData, dating back over 12 years. We are excited to see their continued growth and are delighted to be able to support the company with a top tier commitment.”

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