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Asos PLC - London-based online-only fashion retailer - Refinances its asset-backed loan facility into a secured term loan and delayed-draw term loan, working with a new syndicate of private lenders. Asos says the new facility provides £87.5 million in additional liquidity headroom. This comes from the £87.5 million DDTL, which is in addition to a secured term loan of £150 million. They replace a £75 million revolving credit facility and £50 million in accordion facilities, neither of which had any availability left. The new facilities have a five-year commitment until November 2030, whereas the previous loans were due in 2027. ‘As well as offering improved financial terms, [the refinancing] better positions us to deliver on the final phase of our turnaround strategy and growth plans with greater confidence and resilience,’ says Chief Financial Officer Aaron Izzard. Back in July, Asos promoted Izzard to CFO from director of group finance, replacing Dave Murphy. Current stock price: 250.50 pence, up 8.9% in London on Thursday 12-month change: down 31% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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