DJ Superdry plc: Extension and increase of secondary lending facility
Superdry plc (SDRY)
Superdry plc: Extension and increase of secondary lending facility
28-March-2024 / 16:36 GMT/BST
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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 GBP10m made available
immediately and a further GBP10m 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 investor.relations@superdry.com +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 superdry@brunswickgroup.com +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.
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ISIN: GB00B60BDXXX 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 =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1870257&application_name=news
(END) Dow Jones Newswires
March 28, 2024 12:36 ET (16:36 GMT)
