DATATEC LIMITED - New Westcon International European banking facilities
4 August 2020 17:05
New Westcon International European banking facilities

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Group")


Datatec, the international Information and Communications Technology (ICT) company, announces
the successful signing of a EURO 275 million new banking facility for its subsidiary, Westcon
International Limited’s European subsidiaries ("Westcon Europe") ("the Financing Transaction").

The new EURO 275 million (approximately US$320 million) facility has been entered into with a
European banking syndicate, led by Crédit Agricole Leasing & Factoring (“CAL&F”). This invoice
assignment facility will replace Westcon Europe’s existing invoice financing facility of US$224 million
("the Existing Facility"), which is due to expire on 4 June 2021.

The new committed facility will be for an initial period of 3 years. It will be used to fund Westcon
Europe’s working capital requirements and will bear interest at a much reduced rate compared to
the Existing Facility.

The Financing Transaction is subject to a number of conditions precedent, including the termination
of the Existing Facility and release of the security held by the banking syndicate under the Existing

Jens Montanana, Datatec CEO commented:

"Our ability to refinance Westcon Europe’s working capital facilities in the current environment
with substantially improved terms reflects the solid fundamentals and performance improvements
in the business over the last few years. The new facility will further enhance Westcon’s liquidity
and credit standing and will result in meaningful reductions in interest expense going forward."

4 August 2020

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 04-08-2020 05:05:00
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