RSA Group has announced the completion of a refinancing transaction of its outstanding debt with a substantial majority of holders of its existing first lien and second lien term loans. Participation in the transaction remains open to all remaining first lien and second lien lenders.
The refinancing includes a new capital infusion of $135 million backed by RSA’s existing lenders. As part of the transaction, the company has extended its debt maturities de-levered its balance sheet and strengthened its liquidity position enhancing financial flexibility to support execution of its long-term strategy.
RSA stated that the proceeds will be used to continue investing in innovation, including artificial intelligence capabilities aimed at strengthening fraud-resistant and phishing-resistant authentication as well as improving customer outcomes across its passwordless fraud management and identity product portfolio.
Commenting on the development, Greg Nelson, Chief Executive Officer, RSA, said the announcement marks an important step forward for the company and reflects strong support from existing investors. He added that the strengthened financial foundation will enable RSA to accelerate innovation particularly AI-enabled capabilities that help high-assurance customers secure their identity posture through passwordless and identity governance solutions.
John Filby, Chief Executive Officer, Outseer, said the company will invest in the next phase of product innovation for its AI-powered digital fraud prevention platform, which serves financial institutions globally. He noted that customers are increasingly prioritising All-Cause Fraud Prevention™ innovations to reduce account takeover and scam risks across complex digital customer journeys.
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