Waterstones secures £125 million boost to support future growth
The Waterstones high street bookseller has secured a £125 million package of new financing to support its future growth.
Jointly arranged by Barclays UK Corporate Bank and HSBC UK Bank, the facility includes a £75 million term loan and £50 million revolving credit facility.
Subscribe to TRBKaren Ashworth, chief financial officer at Waterstones, said: “Waterstones would like to thank Barclays and HSBC for their continued partnership in increasing the syndicated facility that supports the financing needs of the business.”
Founded in 1982, Waterstones operates nearly 320 bookshops across the UK, Ireland and Europe, and also sells online.
Karen Johnson, head of retail and wholesale at Barclays Corporate Banking, said: “We are delighted to be able to continue to support Waterstones with their financing requirements and are proud of this growing relationship.”
James Protheroe, senior relationship director at HSBC UK, added: “We are delighted to have supported on this upsized financing package for Waterstones, further cementing our relationship with this hugely popular UK retailer.”
