Waterstones secures £125m to fund growth
The package was jointly arranged by Barclays UK Corporate Bank and HSBC UK Bank, and includes a £75m term loan and a £50m revolving credit facility
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Waterstones has secured £125m in syndicated financing to support its operations and expansion plans.
The UK-based bookseller said the package, jointly arranged by Barclays UK Corporate Bank and HSBC UK Bank, includes a £75m term loan and a £50m revolving credit facility.
The funding will go towards the company’s ongoing financing needs and future growth.
Karen Ashworth, chief financial officer of Waterstones, said: “Waterstones would like to thank Barclays and HSBC for their continued partnership in increasing the syndicated facility that supports the financing needs of the business.”
Karen Johnson, head of retail and wholesale at Barclays Corporate Banking, added: “We are delighted to be able to continue to support Waterstones with their financing requirements and are proud of this growing relationship.”
James Protheroe, senior relationship director at HSBC UK, added: “We are delighted to have supported this upsized financing package for Waterstones, further cementing our relationship with this hugely popular UK retailer.”
Barclays and HSBC acted as lead arrangers on the deal and both took part in the lending.
Founded in 1982 by Sir Tim Waterstone, the company operates nearly 320 bookshops across the UK, Ireland and Europe, along with an online store.
