WH Smith has announced completion of the refinancing of its existing £363m lending facilities.
In an update, the Swindon-headquartered retailer explained that its 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, which 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.
