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Frasers Group signs for new term loan and revolving credit facility

Sports Direct owner Frasers Group has entered into a new term loan and revolving credit facility with its banks. The new deal will replace its existing… View Article

GENERAL MERCHANDISE NEWS

Frasers Group signs for new term loan and revolving credit facility

Sports Direct owner Frasers Group has entered into a new term loan and revolving credit facility with its banks.

The new deal will replace its existing facility of £913.5 million. 

Valid for three years with two one-year extension options for a total tenor of up to five years, it will provide the company with access to borrowings of up to £930 million.

The facility includes an accordion option to increase the facility to £1.2 billion.

The funds will be used to finance Frasers Group’s growth plans which includes investing in its retail fascias and digital platforms.

The company’s other retail brands include the likes of Flannels, Game, House of Fraser, Jack Wills and Sofa.com.

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