03:23 PM EDT, 06/27/2024 (MT Newswires) -- XBP Europe Holdings ( XBP ) shares rose 39% in recent Thursday trading after the company said its subsidiaries completed a $48 million financing agreement with HSBC UK Bank.

The agreement includes two term loans totaling $15 million, a $15 million multicurrency revolving credit facility and an additional $18 million accordion feature, XBP said Thursday.

The new agreement refinances the UK subsidiary's existing indebtedness and provides up to $33 million of incremental liquidity, XBP said. The revolving credit facility will support general corporate purposes, the company said.

The term loans mature in four years, while the revolving credit facility matures in three years with a possible one-year extension.

Price: 1.70, Change: +0.48, Percent Change: +39.34