Frasers Group replaces existing loan facility with larger one

Wed, 01st Dec 2021 12:14

(Alliance News) - Frasers Group PLC on Wednesday replaced its existing loan facility with a larger term loan and revolving credit facility.

The Shirebrook, Derbyshire-based retail and intellectual property company's new facility will be valid for three years.

It also includes two one-year extension options and will provide the retailer with access to borrowings of up to GBP930 million in total.

Furthermore, it includes an accordion option to increase the facility to GBP1.2 billion.

The new loan will replace the company's existing facility of GBP913.5 million.

Shares were up 2.4% at 696.50 pence each on Wednesday around midday in London.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

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