UK's ASOS cuts interest costs in $319 million refinancing

ASOS strengthens balance sheet as turnaround enters final phase - InternetRetailing

ASOS has confirmed a major refinancing deal and board changes as it enters what it calls the “final phase” of its strategy, ahead of its official audited full-year results on 21 November. The retailer has successfully refinanced its asset-backed loan into a £150m secured term loan and an £87.5m delayed draw term loan, extending maturity to 2030. The move adds £87.5m in liquidity headroom and cuts annual interest costs by around £5m, giving ASOS …

ASOS secures new financing deal amid turnaround plans

ASOS has refinanced its asset backed loan facility, securing £87.5m in extra liquidity and extending its debt maturity to 2030.  The company said the move provides “increased financial flexibility” and will cut annual cash interest costs by about £5m compared with its previous arrangement with Bantry Bay. The online fashion retailer said the improved terms reflect stronger profitability and strategic progress made during the first stages of its …

ASOS agrees new £237.5m term loan as turnaround enters final phase

ASOS has refinanced its debt with a new £237.5m loan package, giving the online fashion retailer more flexibility and a stronger financial position as it moves into the final stage of its turnaround plan. The new agreement includes a £150m term loan and an £87.5m delayed draw term loan (DDTL) from a group of private lenders. The five-year deal runs until November 2030 and increases the online fashion retailer’s available liquidity by £87.5m. It …

UK's ASOS cuts interest costs in $319 million refinancing

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ASOS hails refinancing package as new chair set to take reins

ASOS has refinanced its loan facility with a new syndicate of private lenders on much improved terms. The new facility, lasting until November 2030, is comprised of a £150 million secured term loan and £87.5m delayed draw term loan. The online fashion firm said the refinancing includes £87.5m additional liquidity headroom, and will cost it £5m less in annual interest. It replaces the existing £75m revolving credit facility and £50m accordion fac…

Asos refinances at lower interest rate

Drapers Asos refinances at lower interest rate Online fashion giant Asos announced today (13 November) a successful "strategic" refinancing to strengthen its balance sheet in the "final phase" of its turnaround.The post Asos refinances at lower interest rate appeared first on Drapers.