WH Smith PLC Completion of bank refinancing (6003C)
14 Juin 2023 - 8:00AM
UK Regulatory
TIDMSMWH
RNS Number : 6003C
WH Smith PLC
14 June 2023
WH SMITH PLC
The global travel retailer
14 June 2023
Completion of bank refinancing with new long term GBP400m
sustainability linked facility
WH Smith PLC is pleased to announce that it has completed the
refinancing of the Group's existing GBP363m lending facilities.
The Group's existing GBP363m lending facilities, consisting of a
GBP250m revolving credit facility ('RCF') and a GBP113m term loan
have been cancelled and repaid. This repayment is funded by
drawings under new facilities consisting of a GBP400m RCF (the 'New
RCF'). The New RCF is a sustainability linked loan finance
facility.
The New RCF is for a five year term with two uncommitted
extension options of one year each, which would, subject to lender
approval, extend the tenor of the New RCF to six or seven years, if
exercised. The New RCF is provided by a syndicate of banks:
Barclays, BNP Paribas, Citi Commercial Bank, Fifth Third, HSBC, JP
Morgan, PNC, Santander and SEB.
Robert Moorhead, Group Chief Financial Officer and Chief
Operating Officer, commented:
"We are delighted to complete this refinancing. The new
facilities, which are on improved terms, support our strategic
ambitions to grow our global travel retail business. We look
forward to working with our banks to deliver the significant growth
opportunities in our global travel retail markets."
Enquiries:
WH Smith PLC Investor Relations
Mark Boyle Media Relations 07879 897687
Nicola Hillman 01793 563354
Brunswick
Tim Danaher 020 7404 5959
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