Debenhams completes £175m refinance
Debenhams Group has secured a new refinancing facility that provides access to funding of up to £175 million.
Extending maturity to August 2028, the new facility replaces the group’s previous £125 million revolving credit facility that was originally due to mature in October 2026.
Debenhams said the move will provide significantly enhanced financial flexibility to enable it to deliver its new multi-year turnaround strategy.
It is provided by a number of financing parties, led by TPG Angelo Gordon.
Dan Finley, chief executive officer of Debenhams Group, said: “We have put in place a new facility, 12 months early, with strong lenders, that aligns and supports our new strategy – supercharging Debenhams and turning around our youth fashion brands. This follows a comprehensive and competitive review of the market.”
