British luxury clothing retailer Ted Baker gets bank refinancing

Photo: TY Lim / Shutterstock.com


Ted Baker Plc, the global lifestyle brand, signed an extension to its revolving credit facility with its existing loan syndicate. The new agreement extends the term of the revolving credit facility until November 2023 and modifies the adjusted EBITDA covenants tests, providing additional financial flexibility to the London Stock Exchange listed group.

Combined with Ted Baker’s strong net cash position of £ 66.7 millionbillion at the end of the financial year on January 30, 2021, the modified revolving credit line guarantees the group the cash and liquidity necessary to successfully continue the delivery of its transformation plan.

Under the new agreement, the existing RCF of £ 108 millionillion due September 2022 and RCF restricted to £ 25millionmillion euros expiring in January 2022, will be replaced by a new RCF of £ 90millionmillion reduced to £ 80millionbillion in January 2022 until maturity in November 2023.

Fibre2Fashion Information Office (RKS)

Ted Baker Plc, the global lifestyle brand, has signed an extension to its revolving credit facility with its existing loan syndicate. The new agreement extends the maturity of the revolving credit facility until November 2023 and modifies the adjusted EBITDA covenants tests, providing additional financial flexibility to the London Stock Exchange listed group.


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Anne G. Cash

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