CITY & CORPORATE
House of Fraser asks banks to relax lending terms
17 February 2010 | by The Retail Bulletin
House of Fraser has asked its banks to relax lending terms on its borrowings to give it headroom to buy more stock The Daily Telegraph reports.The chain, which was taken private in 2006 by the now defunct Icelandic retail er Baugur, made the proposal to its biggest lenders, led by Lloyds Banking Group and Glitnir, on Monday.In return, it has offered to pay a multi-million pound fee and increase the interest charges on its £250m debt pile. Full article here.
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