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SUPERDRY PLC Capital/Financing Update 2023
5316_rns_2023-04-25_e5bbb548-04ac-41aa-b7f0-3630bcbddbf4.html
Capital/Financing Update
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National Storage Mechanism | Additional information
Superdry plc (SDRY)
Superdry plc: Amended Financing Agreement
25-Apr-2023 / 07:00 GMT/BST
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
25 April 2023
Superdry PLC
(“Superdry” or the “Company”)
Amended Financing Agreement
Further to the Company’s announcement on 14 April 2023, Superdry today announces the agreement of amendments to its financing facility, pursuant to which its lender, Bantry Bay, has agreed to increase the borrowing availability level under its asset-backed facility until completion of the previously announced sale of the APAC business.
The Company currently has in place an asset-backed loan of up to £80m. The borrowing availability levels under the asset-backed facility is determined by the Company’s asset base, which is currently reduced on account of a seasonal low in the Company’s working capital cycle, alongside the previously reported weaker performance of the Wholesale division. As at close of business 24 April, the Company’s net debt position is circa £26m.
For further information
| Superdry | |||
| Shaun Wills | [email protected] | +44 (0) 1242 586747 | |
| Chris MacDonald | [email protected] | +44 (0) 1242 586747 | |
| Joint Corporate Brokers | |||
| Peel Hunt LLP | +44 (0) 2074 188900 | ||
| George Sellar | |||
| Mike Burke | |||
| Liberum Capital Limited | +44 (0) 2031 002000 | ||
| John Fishley | |||
| Edward Thomas | |||
| Media Enquiries | |||
| Tim Danaher | [email protected] | +44 (0) 207 4045959 | |
On publication of this announcement via a Regulatory Information Service, the inside information contained herein is now considered to be in the public domain. The person responsible for arranging this announcement on behalf of Superdry Plc is Shaun Wills, Chief Financial Officer.
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | GB00B60BD277 |
| Category Code: | MSCM |
| TIDM: | SDRY |
| LEI Code: | 213800GAQMT2WL7BW361 |
| Sequence No.: | 239155 |
| EQS News ID: | 1615737 |
| End of Announcement | EQS News Service |