DFS secures £250m in credit facilities
The terms of the RCF are in line with the previous £215m facility, and are consistent with those applicable to the £50m USPP notes
DFS has completed a new £200m revolving credit facility and £50m issue of US private placement notes, replacing the retailer’s existing £215m RCF.
The new credit facility, which has been agreed with existing banking partners, will mature in September 2027 and includes an option to extend a further 16 months.
The terms of the RCF are in line with the previous £215m facility, and are consistent with those applicable to the £50m USPP notes.
The notes will mature in September 2028 (£25m) and September 2030 (£25m).
John Fallon, chief financial officer of DFS, said: “The successful renewal of our lending facilities is a strong positive endorsement of the confidence the group maintains with our long term banking partners and the wider credit market.
“It provides additional liquidity over the longer term as well as flexibility to pursue all our strategic objectives.”