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SUPERDRY PLC Capital/Financing Update 2024
5316_rns_2024-03-28_931d1cd4-bafd-41ad-b159-4a37fdeda45e.html
Capital/Financing Update
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National Storage Mechanism | Additional information
Superdry plc (SDRY)
Superdry plc: Extension and increase of secondary lending facility
28-March-2024 / 16:36 GMT/BST
28 March 2024
Superdry PLC
(“Superdry” or the “Company”)
Extension and increase of secondary lending facility
Superdry today announces that it has agreed an extension and increase to its secondary lending facility (the “Facility”) with Hilco Capital Limited (“Hilco”) that will provide the Company with improved liquidity headroom necessary to help facilitate the implementation of its turnaround plan and cost reduction programme.
The existing asset backed lending facility with Bantry Bay Capital Limited (“Bantry Bay”) remains in place.
The Hilco Facility is to be extended by six months to 7 February 2025 and will see an additional £10m made available immediately and a further £10m available for the working capital peak between September and November, subject to the approval and implementation of cost saving measures. The interest rate is 11.5% plus the Bank of England base rate on the drawn element. It is covenant-light, with borrowing availability based upon an asset base that is consistent with the Company’s current agreements with both lending parties.
For further information, please contact:
| Superdry | |||
| Matthew Lee | [email protected] | +44 (0) 1242 586747 | |
| Joint Corporate Brokers | |||
| Peel Hunt LLP | +44 (0) 2074 188900 | ||
| George Sellar | |||
| Andrew Clark | |||
| Liberum Capital Limited | +44 (0) 2031 002000 | ||
| John Fishley | |||
| Edward Thomas | |||
| Media Enquiries | |||
| Tim Danaher | [email protected] | +44 (0) 207 4045959 | |
Cautionary Statement
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
| ISIN: | GB00B60BD277 |
| Category Code: | MSCL |
| TIDM: | SDRY |
| LEI Code: | 213800GAQMT2WL7BW361 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 312686 |
| EQS News ID: | 1870257 |
| End of Announcement | EQS News Service |