12 Feb 2019

Re-financing first stage | Rating suspended

Debenhams (DEB:LON) | 0 0 (-1.1%) | Mkt Cap: 347.0m

- Tony Shiret
- 3 pages

DEB has announced a new 12month £40m bank facility agreed with certain of its existing Revolving Credit Facility (RCF) lenders and Noteholders and waiver of some existing RCF covenants. This facility with a coupon of LIBOR +5% which can be increased during 2Q calendar 2019 as an incentive to complete a wider re-financing. It has also announced agreement in principle with Li & Fung to develop a strategic sourcing partnership.

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Re-financing first stage | Rating suspended

Debenhams (DEB:LON) | 0 0 (-1.1%) | Mkt Cap: 347.0m

Published: 12 Feb 2019
Author: Tony Shiret
Pages: 3

DEB has announced a new 12month £40m bank facility agreed with certain of its existing Revolving Credit Facility (RCF) lenders and Noteholders and waiver of some existing RCF covenants. This facility with a coupon of LIBOR +5% which can be increased during 2Q calendar 2019 as an incentive to complete a wider re-financing. It has also announced agreement in principle with Li & Fung to develop a strategic sourcing partnership.