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Debenhams Group 'continues to review' debt facilities
(Sharecast News) - Debenhams Group - the newly rebranded Boohoo - said on Thursday that it continues to review its debt facilities "in the ordinary course of business". Responding to press speculation about a potential new debt facility, it said in a brief statement: "Shareholders are reminded, that as previously announced, it has in place an existing £125m revolving credit facility which does not expire until October 2026."
It added: "Debenhams will provide any further updates as appropriate."
Boohoo bought Debenhams out of administration for £55m in 2021.
The statement came after Sky News reported on Wednesday that Boohoo was close to securing a £175m refinancing boost.
According to Sky, Boohoo is in advanced talks to secure a "significant chunk" of debt from US-based investment firm TPG.
Sky said the parties were close to an agreement, although precise details, including the ultimate size of the refinancing package and the extent of TPG's contribution, were unclear.
If confirmed, it will re-establish TPG as a Debenhams stakeholder more than 20 years after the buyout firm was part of a consortium which delisted it from the London Stock Exchange.
At 1510 BST, Boohoo shares were up 5.6% at 20.37p.
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