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.