Business
Revolving Credit Facility extension to May 2026
Revolving Credit Facility extension to May 2026.
About this update from Thg Plc
[{"type":"text","content":"\n\n4 March 2024\n \n \nTHG PLC\nRevolving Credit Facility extension to May 2026\n \n \nTHG PLC (\"THG\" or the \"Group\"), confirms the extension of its Revolving Credit Facility \"RCF\" by 17 months to May 2026.\n \nThe £170 million facility remains undrawn since IPO, and there will be no changes to the financial covenants or interest margin beyond the existing maturity date. From December 2024, the facility will be £150 million.\n \nFollowing the Group's strong profit and cash performance, closing net leverage[1] for FY 2023 was c.1.8x, compared to 2.8x for FY 2022. Continued positive momentum into FY 2024 provides confidence of further degearing.\n \nThe extension affords the Group continued significant financial flexibility during uncertain geo-political times. As at December 2023 the Group had c.£600 million of cash and undrawn facilities providing substantial liquidity and flexibility, to capitalise on growth opportunities.\n \n \n \nFor further information please contact:\n \n\n\n\n\nInvestor enquiries - THG PLC\n\n\n\n\n\n\n\nGreg Feehely, SVP Investor Relations\nKate Grimoldby, Director of Investor Relations and Strategic Projects\n\n\[email protected]\n\n\n\n\n \nMedia enquiries:\n\n\n\n\n\n\n\nPowerscourt - Financial PR adviser\n\n\nTel: +44 (0) 20 7250 1446\n\n\n\n\nVictoria Palmer-Moore/Nick Dibden/Russ Lynch\n\n\[email protected]\n\n\n\n\n \nTHG PLC\nViki Tahmasebi\n \n \n\n\n \n \[email protected]\n\n\n\n\n \n\n\n\n\n[1] Net leverage defined as the ratio of net debt to adjusted EBITDA. Net debt consists of loans (excluding lease liabilities), less cash and cash equivalents.\n\n\n","length":5270,"tagName":"div"}]