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THG PLC on Friday said it has completed its debt refinancing to 2029 and has decreased its net total leverage to 2.2x from 3.2x. The Manchester-based e-commerce retailer of consumer beauty and nutrition products has extended the maturity of €445 million of its term loan B to December 2029. It has also partially repaid €74 million of term loan A and the remaining €155 million of term loan B through balance sheet cash and an equity contribution, and extended the maturity of its existing £150 million revolving credit facility to May 2029 from May 2026. Last week, THG confirmed the structure of its £90 million fundraise, which consisted of a £22 million share placing and a £68 million convertible loan, with Founder & Chief Executive Officer Matthew Moulding contributing two-thirds of the total. THG has decreased net total leverage to 2.2x from 3.2x before deal fees based on 2024 continuing adjusted earnings before interest, tax, depreciation and amortisation of £92 million. JPMorgan and Barclays acted as lead arrangers on the debt refinancing. ‘THG is a fundamentally cash generative business and the refinancing underlines the company’s target to progress towards a neutral net cash/net debt position,’ the company said. THG will report its 2024 preliminary results alongside a first quarter trading update on or around April 30. Shares in THG were down 0.1% at 29.96 pence in London on Friday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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