25th Mar 2025 12:03
WH Smith PLC - Swindon, England-based retailer - Completes issue of GBP200 million US private placement notes and secures a three-year, GBP120 million bank term loan. Says it issued USSP notes on investment grade terms, with maturity of 7, 10 and 12 years. Notes that its bank term loan has 2 uncommitted extension options, which could see it extend to four and five years. Adds that it is being provided by a syndicate of lenders including Fifth Third Bank National Association, HSBC UK Bank PLC, Banco Santander SA and Skandinaviska Enskilda Banken AB. Also retains existing GBP400 million revolving credit facility which matures in 2029, with one-year extension option. Chief Financial Officer Max Izzard says: "We are pleased to have successfully completed our refinancing, which includes our first US Private Placement and a new bank term loan. The refinancing strengthens our balance sheet, extends our debt maturity profile, and diversifies our capital structure. It also gives the group access to a new debt investor base in the future, and we are pleased to have the continuing support of our banking partners." Read More
