Ted Baker PLC Successful bank refinancing (6517Z)
25 May 2021 - 4:00PM
UK Regulatory
TIDMTED
RNS Number : 6517Z
Ted Baker PLC
25 May 2021
Ted Baker plc
("Ted Baker" or the "Group")
Successful bank refinancing
Ted Baker Plc, the global lifestyle brand, is pleased to
announce that it has signed an extension to its revolving credit
facility with its existing lending syndicate.
The new agreement extends the revolving credit facility maturity
to November 2023 and amends the covenants. Combined with Ted
Baker's strong net cash position of GBP66.7m at the end of the
financial year 30 January 2021, this ensures the Group has the
necessary cash and liquidity to continue the successful delivery of
its transformation plan.
Under the new agreement, the existing RCF of GBP108m maturing in
September 2022 and restricted RCF of GBP25m maturing in January
2022, will be replaced by a new RCF of GBP90m reducing to GBP80m in
January 2022 until maturity in November 2023. The existing lending
syndicate continues to show ongoing support to the Group.
The amended revolving credit facility includes among other
changes amendments to the adjusted EBITDA covenant tests, providing
further financial flexibility for the Group.
For further information please contact:
Tulchan Communications
Tel: +44 (0) 20 7353 4200
Jonathan Sibun / Jessica Reid
www.tedbaker.com
www.tedbakerplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCAIMPTMTMTBJB
(END) Dow Jones Newswires
May 25, 2021 02:00 ET (06:00 GMT)
Ted Baker (LSE:TED)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ted Baker (LSE:TED)
Historical Stock Chart
From Apr 2023 to Apr 2024