REG - Inspecs Group PLC - Banking Facilities – Renewal to 2027

InspecsAnnouncement

16/12/2024 07:00

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RNS Number : 1956Q  Inspecs Group PLC  16 December 2024

16 December 2024

 

Inspecs Group plc

("Inspecs" or "the Group")

 

Banking Facilities - Renewal to 2027

 

Inspecs Group plc, a leading designer, manufacturer and distributor of eyewear
(sunglasses, optical frames, lenses and low vision products) is pleased to
announce that it has successfully refinanced its existing banking arrangements
with HSBC UK Bank plc, extending their maturity to 2027.

 

The debt facilities consist of a three-year Multicurrency Revolving Credit
Facility of 38m Euro and a 12m Euro Term Loan, together with an accordion
option to extend the facility if the Group chooses to. The new facilities will
provide the Group with increased financial flexibility for the next three
years with an option to extend for two further years subject to bank consent.

 

Chris Kay, Chief Financial Officer of Inspecs Group plc, commented:

"We are very pleased to have refinanced and extended our banking facilities
and would like to thank HSBC UK Bank plc for its continued support."

 

 

For further information please contact:

 

 Inspecs Group plc                         via FTI Consulting

 Richard Peck (CEO)                        Tel: +44 (0) 20 3727 1000

 Chris Kay (CFO)

 Peel Hunt (Nominated Adviser and Broker)  Tel: +44 (0) 20 7418 8900

 George Sellar

 Andrew Clark

 FTI Consulting (Financial PR)             Tel: +44 (0) 20 3727 1000

 Alex Beagley

 Harriet Jackson

 Amy Goldup

 

About Inspecs Group plc

 

INSPECS is a leading provider of eyewear solutions to the global eyewear
market. The Group produces a broad range of eyewear frames, low vision aids
and lenses, covering optical, sunglasses and safety, which are either
"Branded" (under licence or under the Group's own proprietary brands), or
"OEM" (unbranded or private label on behalf of retail customers).

 

INSPECS is building a global eyewear business through its vertically
integrated business model. Its continued growth is underpinned by six core
pillars: increasing the penetration of its own-brand portfolio, increasing
distribution, growing its travel retail markets, maximising group synergies,
expanding its manufacturing capacity and scaling the research and development
department as it develops new and innovative eyewear products.

 

The Group has operations across the globe: with offices and subsidiaries in
the UK, Germany, Portugal, Scandinavia, the US and China (including Hong Kong,
Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK
and Italy.

 

INSPECS customers are global optical and non-optical retailers, global
distributors and independent opticians. Its distribution network covers over
80 countries and reaches approximately 75,000 points of sale.

 

More information is available at: https://inspecs.com (https://inspecs.com) .

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