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Ted Baker announces successful bank refinancing

Ted Baker has announced that it has signed an extension to its revolving credit facility with its existing lenders to ensure that it has the required… View Article

FASHION

Ted Baker announces successful bank refinancing

Ted Baker has announced that it has signed an extension to its revolving credit facility with its existing lenders to ensure that it has the required cash and liquidity to continue delivery of its transformation plan.

The new agreement extends the fashion retailer’s revolving credit facility maturity to November 2023 and amends the covenants.  

Under the new agreement, the existing revolving credit facility of £108 million maturing in September 2022 and restricted revolving credit facility of £25 million maturing in January 2022 will be replaced by a new facility of £90 million. This will reduce to £80 million in January 2022 until maturity in November 2023. 

Ted Baker said its existing lending syndicate is continuing to show ongoing support to the group.

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