REG - WH Smith PLC - Completion of bank refinancing

WH SmithAnnouncement

14/06/2023 07:00

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RNS Number : 6003C  WH Smith PLC  14 June 2023

 

WH SMITH PLC

 

The global travel retailer

 

14 June 2023

 

Completion of bank refinancing with new long term £400m

sustainability linked facility

 

WH Smith PLC is pleased to announce that it has completed the refinancing of
the Group's existing £363m lending facilities.

 

The Group's existing £363m lending facilities, consisting of a £250m
revolving credit facility ('RCF') and a £113m term loan have been cancelled
and repaid. This repayment is funded by drawings under new facilities
consisting of a £400m RCF (the 'New RCF'). The New RCF is a sustainability
linked loan finance facility.

 

The New RCF is for a five year term with two uncommitted extension options of
one year each, which would, subject to lender approval, extend the tenor of
the New RCF to six or seven years, if exercised. The New RCF is provided by a
syndicate of banks: Barclays, BNP Paribas, Citi Commercial Bank, Fifth Third,
HSBC, JP Morgan, PNC, Santander and SEB.

 

Robert Moorhead, Group Chief Financial Officer and Chief Operating Officer,
commented:

 

"We are delighted to complete this refinancing. The new facilities, which are
on improved terms, support our strategic ambitions to grow our global travel
retail business. We look forward to working with our banks to deliver the
significant growth opportunities in our global travel retail markets."

 

 

 

Enquiries:

 

 WH Smith PLC

 Mark Boyle       Investor Relations   07879 897687

 Nicola Hillman   Media Relations      01793 563354

 Brunswick

 Tim Danaher                           020 7404 5959

 

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