REFINANCING (5521K)
18 Juillet 2011 - 10:00AM
UK Regulatory
TIDMDEB
RNS Number : 5521K
Debenhams plc
18 July 2011
18(th) July 2011
DEBENHAMS PLC - REFINANCING
Debenhams plc, the leading department store group, today
confirms that it has completed a refinancing of the GBP650 million
senior credit facility agreed in July 2010. The refinancing extends
the maturity date for the borrowing facility to October 2015 (from
October 2013) with a further option to extend to October 2016. In
addition to the extension in tenor, the amended terms will reduce
the Group's cash interest rate by 0.50% to around 4% with immediate
effect. Associated refinancing costs of around GBP3.3 million will
be amortised over the life of the facility.
The GBP650 million facility continues to comprise a GBP250
million term loan and GBP400 million revolving credit facility.
The Mandated Lead Arrangers and Bookrunners were Barclays
Capital, Lloyds Banking Group and Royal Bank of Scotland.
Chris Woodhouse, Finance Director of Debenhams, said:
"We are delighted to have successfully secured Debenhams' medium
term funding requirements through this extension, significantly
lowering the Group's interest costs in the process. Our ability to
achieve such a refinancing in the current economic environment is a
testament to the continued strong performance of the business."
Enquiries
Investors and analysts
Debenhams plc
Rob Templeman, Chief Executive
Chris Woodhouse, Finance Director
Lisa Williams, Investor Relations 020 7408 3304
Press
Financial Dynamics
Jonathon Brill 020 7269 7170
Caroline Stewart 020 7269 7227
Notes to Editors
Debenhams is an iconic British department store group which was
established over 200 years ago. Debenhams has a strong presence in
key product categories including womenswear, menswear,
childrenswear, home and health and beauty and offers its customers
a unique and differentiated mix of exclusive own bought brands
including Designers at Debenhams, international brands and
concessions.
Debenhams has a total of 167 stores in the UK, the Republic of
Ireland and Denmark. Debenhams also has 61 international franchise
stores in 24 countries and an online store, www.debenhams.com,
through which much of the Debenhams range is available.
Designers at Debenhams include Ted Baker, Jeff Banks, Jasper
Conran, Erickson Beamon, FrostFrench, Henry Holland, Roksanda
Ilincic, Betty Jackson, Jonathan Kelsey, Ben de Lisi, Julien
Macdonald, Melissa Odabash, Jane Packer, Pearce Fionda, Preen,
Janet Reger, John Rocha, Jonathan Saunders, Lisa Stickley, Eric Van
Peterson and Matthew Williamson.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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