REG-Superdry plc Superdry plc: Extension and increase of secondary lending facility

SuperdryAnnouncement

28/03/2024 16:45

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   Superdry plc (SDRY)
   Superdry plc: Extension and increase of secondary lending facility

   28-March-2024 / 16:36 GMT/BST

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   28 March 2024

                                        

                                  Superdry PLC

                         (“Superdry” or the “Company”)

    

              Extension and increase of secondary lending facility

    

   Superdry today announces that it has  agreed an extension and increase  to
   its secondary lending facility (the “Facility”) with Hilco Capital Limited
   (“Hilco”) that will provide the  Company with improved liquidity  headroom
   necessary to help facilitate the implementation of its turnaround plan and
   cost reduction programme.

    

   The existing asset backed lending facility with Bantry Bay Capital Limited
   (“Bantry Bay”) remains in place.

    

   The Hilco Facility is to be extended by six months to 7 February 2025  and
   will see an additional £10m made available immediately and a further  £10m
   available for the  working capital  peak between  September and  November,
   subject to the approval  and implementation of  cost saving measures.  The
   interest rate is 11.5%  plus the Bank  of England base  rate on the  drawn
   element. It is covenant-light, with  borrowing availability based upon  an
   asset base that is consistent  with the Company’s current agreements  with
   both lending parties.

    

   For further information, please contact:

    

   Superdry                                                
   Matthew Lee            investor.relations@superdry.com +44 (0) 1242 586747
                                                           
   Joint Corporate Brokers                                           
                                                           
   Peel Hunt LLP                                          +44 (0) 2074 188900
   George Sellar                                           
   Andrew Clark                                            
                                                           
   Liberum Capital                                        +44 (0) 2031 002000
   Limited
   John Fishley                                            
   Edward Thomas                                           
                                                           
   Media Enquiries                                         
   Tim Danaher            superdry@brunswickgroup.com     +44 (0) 207 4045959
                                                                     

    

    

   Cautionary Statement

   This announcement contains inside information for the purposes of  Article
   7 of the  Market Abuse Regulation  (EU) 596/2014  as it forms  part of  UK
   domestic law  by  virtue  of  the European  Union  (Withdrawal)  Act  2018
   ("MAR").

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B60BD277
   Category Code:  MSCL
   TIDM:           SDRY
   LEI Code:       213800GAQMT2WL7BW361
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   312686
   EQS News ID:    1870257


    
   End of Announcement EQS News Service

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