REG - THG PLC - Revolving Credit Facility extension to May 2026

THGAnnouncement

04/03/2024 07:00

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RNS Number : 3686F  THG PLC  04 March 2024

4 March 2024

 

 

THG PLC

Revolving Credit Facility extension to May 2026

 

 

THG PLC ("THG" or the "Group"), confirms the extension of its Revolving Credit
Facility "RCF" by 17 months to May 2026.

 

The £170 million facility remains undrawn since IPO, and there will be no
changes to the financial covenants or interest margin beyond the existing
maturity date. From December 2024, the facility will be £150 million.

 

Following the Group's strong profit and cash performance, closing net
leverage 1  (#_ftn1) for FY 2023 was c.1.8x, compared to 2.8x for FY 2022.
Continued positive momentum into FY 2024 provides confidence of further
degearing.

 

The extension affords the Group continued significant financial flexibility
during uncertain geo-political times. As at December 2023 the Group had
c.£600 million of cash and undrawn facilities providing substantial liquidity
and flexibility, to capitalise on growth opportunities.

 

 

 

For further information please contact:

 

 Investor enquiries - THG PLC
 Greg Feehely, SVP Investor Relations                                    Investor.Relations@thg.com (mailto:Investor.Relations@thg.com)

 Kate Grimoldby, Director of Investor Relations and Strategic Projects

 Media enquiries:
 Powerscourt - Financial PR adviser                                      Tel: +44 (0) 20 7250 1446
 Victoria Palmer-Moore/Nick Dibden/Russ Lynch                            thg@powerscourt-group.com (mailto:thg@powerscourt-group.com)

 THG PLC

 Viki Tahmasebi                                                          Viki.tahmasebi@thg.com (mailto:Viki.tahmasebi@thg.com)

 

 1  (#_ftnref1) Net leverage defined as the ratio of net debt to adjusted
EBITDA. Net debt consists of loans (excluding lease liabilities), less cash
and cash equivalents.

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