4th Mar 2024 11:14
(Alliance News) - THG PLC on Monday said that it has extended a pre-existing revolving credit facility by 17 months to May 2026.
According to the Manchester-based e-commerce platform, the GBP170 million facility has remained undrawn since the company's initial public offering in September 2020, and there will be no changes to the financial covenants or interest margin.
From December this year, the facility will be GBP150 million.
THG told investors on Monday that the extension gives the company "significant financial flexibility during uncertain geo-political times". It added that continued "positive momentum" into this year gives confidence of further de-gearing.
THG shares were trading 1.9% lower at 61.73 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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