Superdry plc
Extension and increase of secondary lending facility
- Superdry extends and increases secondary lending facility
- Agreement with Hilco Capital Limited for improved liquidity
- Facility extended by 6 months, additional £10m available immediately
Superdry plc (SDRY) 28 March 2024 |
Superdry PLC
(“Superdry” or the “Company”)
Extension and increase of secondary lending facility
Superdry today announces that it has agreed an extension and increase to its secondary lending facility (the “Facility”) with Hilco Capital Limited (“Hilco”) that will provide the Company with improved liquidity headroom necessary to help facilitate the implementation of its turnaround plan and cost reduction programme.
The existing asset backed lending facility with Bantry Bay Capital Limited (“Bantry Bay”) remains in place.
The Hilco Facility is to be extended by six months to 7 February 2025 and will see an additional £10m made available immediately and a further £10m available for the working capital peak between September and November, subject to the approval and implementation of cost saving measures. The interest rate is 11.5% plus the Bank of England base rate on the drawn element. It is covenant-light, with borrowing availability based upon an asset base that is consistent with the Company’s current agreements with both lending parties.
For further information, please contact:
Superdry |
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Matthew Lee |
investor.relations@superdry.com |
+44 (0) 1242 586747 Diskutieren Sie über die enthaltenen Werte |