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B&M European Value Retail SA - Luxembourg-based variety goods value retailer - Completes refinancing of bank facilities totalling £450 million. Facilities provided by a syndicate of seven banks and comprise a £225 million term loan and a £225 million revolving credit facility with a five-year maturity, plus two additional one-year extension options. Says these fully cover anticipated bank borrowing requirements and replace the existing £300 million term loan and £155 million RCF that were expected to mature in April 2025. The thresholds on the financial covenant ratio and applicable interest margins are equivalent to existing levels. Adds Heron Foods Ltd and Heron Food Group Ltd will now also act as guarantors of the facilities and also the outstanding £400 million 2025 senior secured notes, and its £250 million 2028 senior secured notes. Current stock price in London: 479.59 pence 12-month change: down 12% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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