Superdry close to agreeing £70m refinancing deal
According to Superdry, it acknowledges recent speculations, confirming that it is in negotiations with the specialist lending provider, Bantry Bay Capital Limited
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Superdry is reportedly close to agreeing a £70m deal with Elliott Advisors, a US-based hedge fund.
The news comes as the retailer, which is being advised by PwC, will need a new asset-backed lending (ABL) facility for when its existing deal expires in January 2023.
In addition to this, it is reported that the investment is also needed to aid the retailer in repaying its loans, which are also due in January 2023.
According to Superdry, it “acknowledges” recent speculations about its previously announced refinancing process, confirming that it is in negotiations with the specialist lending provider, Bantry Bay Capital Limited.
However, the retail group stresses that there can be no certainty that an agreement will be reached as it remains in discussions with other lenders.
A further announcement will be made “as and when appropriate”.
