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On 02 December 2024, the Board of directors of boohoo Group plc notified its lenders of the repayment of £50m of its £97m term loan. This repayment, agreed as part of its recently announced refinancing, will be made with funds from an oversubscribed placing and through the Group's initiative to reduce stock levels.
| Date | 2 Dec 2024 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 2782O |
boohoo group plc
("boohoo", the "Group" or the "Company")
The Board of directors (the "Board") of boohoo Group plc (AIM:BOO), is pleased to announce that it has notified its lenders of the repayment of £50m of its £97m term loan agreed as part of its recently announced refinancing.
Dan Finley, boohoo Group Chief Executive Officer, said:
"Following the conclusion of the recently announced oversubscribed placing we are today pleased to announce the repayment of £50m of our term loan. The repayment will be made with funds raised from the placing and through the Group's initiative to reduce stock levels as we become a leaner and lighter business, focused on maximising value for all our shareholders. The Board would like to thank our banking syndicate for their continued support."
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Enquiries |
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boohoo group plc |
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Stephen Morana, Chief Financial Officer |
Tel: +44 (0)161 233 2050 |
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Mike Cooper, Investor Relations |
Tel: +44 (0)161 233 2050 |
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Zeus Capital - Joint Financial Advisor, Nominated Advisor and Joint Broker |
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Nick Cowles / Dan Bate / James Edis |
Tel: +44 (0)161 831 1512 |
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Benjamin Robertson |
Tel: +44 (0)20 3829 5000 |
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HSBC - Joint Financial Advisor and Joint Broker |
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Anthony Parsons / Alex Thomas / Chloe Ponsonby / James Hopton |
Tel: +44 (0)20 7991 8888 |
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Headland - PR agency |
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Susanna Voyle / Will Smith |
Tel: +44 (0)20 3725 7514 |
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About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo group is a fashion forward, inclusive and innovative business. The Group's brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7. The diversity of our brands, including the group's 5 core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable us to serve a broad customer base, globally, with a primary focus on the UK and US markets. Since its acquisition in 2021, Debenhams has been transformed from a retailer into a digital marketplace with a capital-light, low-risk operating model and a focus on fashion, beauty as well as home. Boohoo group is concentrated on driving sustainable, profitable growth with technology and automation increasing efficiency across the business.