Frasers Builds £3bn War Chest with New Banking Facility

Frasers nearly doubles financing facility to £3bn to support growth

Frasers Group has revealed that it has increased its financing facility from £1.65bn to £3bn in a new term loan and revolving credit facility. The deal has been agreed with its banking partners and has a three-year term with an option to extend it by up to two years. It also includes an accordion option to increase borrowing by a further £500m at the lenders’ discretion. The company believes that the increase in the total facility demonstrates “…

Frasers Group secures potential £3.5bn war chest to fund growth and acquisitions

Frasers Group, the retail empire controlled by Mike Ashley, has secured a new financing package worth up to £3.5 billion, significantly strengthening its financial firepower for future acquisitions and growth initiatives. The group announced today that it has replaced its existing £1.65 billion loan facilities with a £3 billion term loan and revolving credit facility, provided by a syndicate of banks. The new facility runs for an initial three-y…

Frasers doubles credit line to £3bn to fuel growth - Retail Gazette

Frasers Group has replaced its existing £1.65bn financing facilities with a new £3bn term loan and revolving credit facility, giving the retail giant greater financial firepower for its growth ambitions. The deal, agreed with its banks, has a three-year term with options to extend by up to two years, and includes an accordion option to increase borrowing by a further £500m at the lenders’ discretion. The Sports Direct owner said the increased fa…

Frasers Group secures potential £3.5bn war chest

Frasers Group has replaced its current financing facilities with a new £3bn term loan and revolving credit facility from its banks. The current facilities of £1.65bn – excluding a securitised loan to Frasers Group Financial Services – will be replaced by the new facility, which is valid for three years with two one-year extension options for a total tenor of up to five years. The facility includes an accordion option to increase this facility by…

Frasers Group grabs £3bn credit line

Drapers Frasers Group grabs £3bn credit line Frasers Group has entered into a new term loan and revolving credit facility, replacing its existing financing facilities of £1.65bn.The post Frasers Group grabs £3bn credit line appeared first on Drapers.

Frasers builds £3bn war chest with new banking facility

Shirebrook business hails 'significant support' of banking industry