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By Joe Hoppe
S4 Capital PLC said on Monday that revenue and gross margin in May and June had exceeded expectations and had hired a consortium of banks for a new loan.
The digital advertising company said that since its last update detailing the first four months of 2021, activity has continued at unprecedented levels, driven by the post-pandemic global economic rebound and accelerating changes in digital marketing.
Like-for-like sales and gross profit growth continued at levels above company expectations, and it said it was in the early planning stages to expand its business to a third practice area around technology services, while expanding and deepening its practices in the Americas and Asia-Pacific.
The company has engaged Credit Suisse Group AG, HSBC Holdings PLC and Barclays PLC as lead arrangers for a guaranteed term loan of 375 million euros ($ 442.7 million) over seven years.
It also engaged Credit Suisse, HSBC, Barclays, JPMorgan Chase & Co. and BNP Paribas SA to refinance its existing term loans of € 25 million and € 28.9 million and its multi-currency facilities of € 35 million. euros and 43.5 million euros and provide 200 million pounds ($ 275.4 million) for general corporate purposes, including funding the cash element of future mergers.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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