XBP Europe completes $48M financing with HSBC, including $33M incremental liquidity

XBP Global Holdings, Inc.

New Facilities Agreement with HSBC: Term Loan A (£3M), Term Loan B (€10.5M), Revolving Credit Facility (£12M), plus accordion up to $18M.
Proceeds used to refinance existing UK subsidiary debt (no penalties) and provide ~$33M incremental liquidity for growth.
Term Loans mature 4 years, RCF matures 3 years with possible 1-year extension at HSBC’s discretion; interest rate reference + 3.25%.
Financial covenants: leverage ratio ≤2.50x (step-downs), interest coverage ≥4.00x, cashflow coverage ≥1.10x.
Existing non-recourse factoring program (€15M) remains unaffected.

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