Datalex extends Tireragh debt facility, increases interest rate

By Marisa Wong

Los Angeles, April 11 – Datalex plc announced it amended its debt facilities agreement with Tireragh Ltd. dated Oct. 30, 2019.

The amendment extends the repayment date to Dec. 31, 2024 from June 30, 2023, giving the group further financial flexibility, according to a news release.

The amendment confirms the continued availability of the B term loan facility in the amount of roughly €10 million, of which about €1 million remains undrawn, and extends the availability period to June 30.

The amendment also increases the interest rate with immediate effect to 15.5% from 10%, to 16.5% from July 1 and to 18% from Oct. 1.

Tireragh is a company ultimately beneficially owned by Dermot Desmond and an associate of Datalex’s largest shareholder, IIU Nominees Ltd., another company ultimately beneficially owned by Desmond.

Datalex is a Dublin-based software company.

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