Debenhams Completes Successful Refinancing
Debenhams completes refinancing with £175m facility extending maturity to August 2028.
- New facility size £175 million
- Previous facility £125 million
- New maturity date August 2028
- Previous maturity date October 2026
- Interest rate Bank of England base rate plus 7.3%
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Debenhams Group (AIM:DEBS), the online powerhouse in fashion, home and beauty, today announces the completion of a new 3-year facility providing access to funding of up to £175 million.
The new facility, which extends maturity to August 2028, replaces the Group's previous £125 million revolving credit facility originally due to mature in October 2026. The new facility, executed by the new management team more than 12 months ahead of the original maturity date, provides significantly enhanced financial flexibility, enabling the Group to deliver its new multi-year turnaround strategy.
The new facility is provided by a number of financing parties, led by TPG Angelo Gordon. Reflecting the increased scale and flexibility of the facility, the interest rate is set at the Bank of England base rate plus 7.3%.
Dan Finley Chief Executive Officer of Debenhams Group, commented:
"We have put in place a new facility, 12 months early, with strong lenders, that aligns and supports our new strategy - supercharging Debenhams and turning around our Youth fashion brands. This follows a comprehensive and competitive review of the market."
Notice of Results
Debenhams Group will announce its FY25 results by the end of August 2025.
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