7th Sep 2023 14:03
DFS Furniture PLC - Doncaster, England-based retailer sells sofas and other upholstered furniture - Completes new GBP200 million revolving credit facility and GBP50 million issue of US private placement notes. Together, these replace the existing GBP215 million RCF.
The GBP200 million RCF which has been agreed with existing banking partners, will mature in September 2027 and includes an option to extend a further 16 months subject to lenders' agreement. The terms of the RCF are in line with the previous GBP215 million facility and are consistent with those applicable to the GBP50 million USPP notes. Says GBP25 million of notes will mature in September 2028 and GBP25 million in September 2030.
Chief Financial Officer John Fallon said: "The successful renewal of our lending facilities is a strong positive endorsement of the confidence the group maintains with our long term banking partners and the wider credit market. It provides additional liquidity over the longer term as well as flexibility to pursue all our strategic objectives."
Current stock price: 111.52 pence, up 1.0% on Thursday afternoon in London
12-month change: down 14%
By Sophie Rose, Alliance News reporter
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