DFS has announced the completion of a new £200m Revolving Credit Facility (RCF) and £50m issue of US Private Placement (USPP) notes which, together, replace the group's existing £215m RCF.
The £200m RCF, which has been agreed with existing banking partners, will mature in September 2027, and includes an option to extend for a further 16 months, subject to lenders' agreement. DFS says that the terms of the RCF are in line with its previous £215m facility, and are consistent with those applicable to the £50m USPP notes. The notes will mature in September 2028 (£25m) and September 2030 (£25m).
John Fallon, the group's CFO, says: "The successful renewal of our lending facilities is a strong positive endorsement of the confidence the group maintains with our long-term banking partners and the wider credit market. It provides additional liquidity over the longer term as well as flexibility to pursue all our strategic objectives."
