Debenhams owner boohoo says "continues to review" debt facilities

(Alliance News) - boohoo Group PLC on Thursday said it "continues to review its debt facilities" after a press report that a US private equity firm is in talks to provide it with financing.

The online retailer noted "recent speculation regarding a new debt facility". Sky News reported Wednesday that boohoo was close to securing a GBP175 million refinancing package with private equity firm TPG Inc involved.

Sky reported that the ultimate size of the refinancing package, as well as the sum of TPG's contribution, were not certain.

boohoo said Thursday: "Shareholders are reminded, that as previously announced, it has in place an existing GBP125 million revolving credit facility which does not expire until October 2026. It continues to review its debt facilities, in the ordinary course of business."

boohoo in March said it will "continue forward as Debenhams Group" despite shareholders rejecting a name change for the ultimate holding company.

It said 62% of shareholders voted in favour of the name change to Debenhams Group PLC. The motion required the approval of two-thirds of shareholders to pass.

Therefore, the holding company will remained listed as boohoo Group PLC, though the ticker code changed to DEBS.

boohoo said while the name of the listed company will not change, it will "continue forward as Debenhams Group".

The firm rebranded as Debenhams Group, as it said the "reinvigorated" Debenhams is now the "majority contributor" to group profit.

boohoo shares rose 6.1% to 20.43 pence each in London on Thursday afternoon.

By Eric Cunha, Alliance News news editor

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