Dermot Desmond to almost double Datalex interest repayments

The interest on the €10 million loan to the travel software business will rise from 10 per cent to 18 per cent by October 1

Dermot Desmond first provided the €10 million loan to Datalex in 2020. Picture: Getty

The interest on Datalex’s loan repayments to Dermot Desmond’s Tireragh Ltd will almost double between now and October.

The interest rate on the airline software firm’s repayments has been increased, rising from 10 per cent per annum to 15.5 per cent with immediate effect and to 18 per cent per annum from October 1.

The travel software business is to seek further funding opportunities following the amendment of its debt agreement with Tireragh to December ...