PRESS RELEASE

from SuperGroup (isin : GB00B60BD277)

Superdry plc: Amended Financing Agreement

Superdry plc (SDRY)
Superdry plc: Amended Financing Agreement

25-Apr-2023 / 07:00 GMT/BST


THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

25 April 2023

Superdry PLC

(“Superdry” or the “Company”)

 

Amended Financing Agreement

Further to the Company’s announcement on 14 April 2023, Superdry today announces the agreement of amendments to its financing facility, pursuant to which its lender, Bantry Bay, has agreed to increase the borrowing availability level under its asset-backed facility until completion of the previously announced sale of the APAC business.

The Company currently has in place an asset-backed loan of up to £80m. The borrowing availability levels under the asset-backed facility is determined by the Company’s asset base, which is currently reduced on account of a seasonal low in the Company’s working capital cycle, alongside the previously reported weaker performance of the Wholesale division. As at close of business 24 April, the Company’s net debt position is circa £26m.

 

For further information

Superdry

 

 

Shaun Wills

shaun.wills@superdry.com

+44 (0) 1242 586747

Chris MacDonald

investor.relations@superdry.com

+44 (0) 1242 586747

 

 

 

Joint Corporate Brokers

 

 

 

 

 

Peel Hunt LLP

 

+44 (0) 2074 188900

George Sellar

 

 

Mike Burke

 

 

 

 

 

Liberum Capital Limited

 

+44 (0) 2031 002000

John Fishley

 

 

Edward Thomas

 

 

 

 

 

Media Enquiries

 

 

Tim Danaher 

superdry@brunswickgroup.com

+44 (0) 207 4045959

    

 

On publication of this announcement via a Regulatory Information Service, the inside information contained herein is now considered to be in the public domain. The person responsible for arranging this announcement on behalf of Superdry Plc is Shaun Wills, Chief Financial Officer.



Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


ISIN:GB00B60BD277
Category Code:MSCM
TIDM:SDRY
LEI Code:213800GAQMT2WL7BW361
Sequence No.:239155
EQS News ID:1615737

 
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