Update on Refinancing - Loan Repayment
Boohoo repays £50m of £97m term loan using placing proceeds and stock reduction
- Term loan repayment £50m
- Original term loan £97m
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The Board of directors (the "Board") of boohoo Group plc (AIM:BOO), is pleased to announce that it has notified its lenders of the repayment of £50m of its £97m term loan agreed as part of its recently announced refinancing.
Dan Finley, boohoo Group Chief Executive Officer, said:
"Following the conclusion of the recently announced oversubscribed placing we are today pleased to announce the repayment of £50m of our term loan. The repayment will be made with funds raised from the placing and through the Group's initiative to reduce stock levels as we become a leaner and lighter business, focused on maximising value for all our shareholders. The Board would like to thank our banking syndicate for their continued support."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.