Frasers Group refinances with new 3 billion pounds credit facility

Frasers Group PLC has successfully secured a new term loan and revolving credit facility totalling up to 3 billion pounds, replacing its previous financing arrangements of 1.65 billion pounds (excluding Frasers Group Financial Services Limited's securitised loan).

The new facility is set for a three-year term, with the option for two one-year extensions, potentially extending the total tenor to five years. Additionally, the agreement includes an accordion option, allowing for a potential increase of up to an additional 0.5 billion pounds at the discretion of the lenders.

The Group views this substantial increase in its borrowing capacity as a strong indicator of support from the banking industry, affirming the success and strategic direction of its "Elevation Strategy." The Board of Frasers Group has extended its gratitude to its banking partners for their continued backing.