Birkenstock Refinances Loans and Cuts USD 50 Million in Debt

London, United Kingdom – On May 28, 2024, Birkenstock Holding plc announced the refinancing of its credit facilities and an early repayment of around USD 50 million. This move aims to optimize financing conditions and further deleverage its balance sheet.

The new agreement, secured with a syndicate of nine banks, provides loans and commitments totaling approximately EUR 850 million. This replaces previous term loans and an undrawn asset-based lending (ABL) facility. The commitment volume surpassed the required EUR 850 million by more than 30%.

CEO Oliver Reichert emphasized the company's focus on cost management and balance sheet deleveraging. The refinancing is expected to yield annual credit margin savings in the mid-single-digit million EUR range and reduce FX exposure.