Refinancing of Debt Facilities

RNS Number : 7733N

Halfords Group PLC

12 September 2013

 



12 September 2013

Halfords Group plc

Refinancing of Debt Facilities

Halfords Group plc ("the Group"), the UK's leading retailer of automotive and leisure products and services and leading independent operator in garage servicing and auto repair, has completed the proposed refinancing of its debt facilities as referenced in the 23 May 2013 preliminary results announcement.

Halfords has secured a new £200m revolving credit facility, maturing in November 2017. The Group has the option to extend this committed facility by a further year. The financial covenants remain unchanged from the previous £300m facility that was due to mature in November 2014.

Enquiries

Investors & Analysts	[phone]
Andrew Findlay, Group Finance Director Craig Marks, Head of Investor Relations
Media (Maitland)	[phone]
Neil Bennett

Next Newsflow

Halfords will report its interim results on 7 November 2013.

Notes 

www.halfords.com

www.halfordscompany.com

www.halfordsautocentres.com

The Group is the UK's leading retailer of automotive, leisure and cycling products and through Halfords Autocentres also one of the UK's leading independent car servicing and repair operator. Halfords customers shop at 466 stores in the UK and Republic of Ireland and at halfords.com for pick-up at their local store or direct home delivery. Halfords Autocentres operates from over 290 sites nationally and offers motorists dealership-quality MOTs, repairs and car servicing at affordable prices.

The Halfords group strategy is based on three pillars:

·      Supporting Drivers Of Every Car

·      Inspiring Cyclists Of Every Age

·      Equipping Families For Their Leisure Time

The Getting into Gear 2016 plan for the Retail business is based on executing in five key areas in order to deliver a significantly-enhanced customer experience:

·      Service Revolution

·      The H Factor

·      Stores Fit To Shop

·      21^st Century Infrastructure

·      Click With The Digital Future

Halfords employs approximately 12,000 colleagues and sells around 10,000 product lines in stores, increasing to around 30,000 lines online. The product offering encompasses significant ranges in car parts, cycles, in-car technology, child seats, roof boxes, outdoor leisure and camping equipment. Halfords own brands include Apollo and Carrera cycles, augmented by exclusive UK distribution rights for the premium-ranged Boardman cycles and accessories. In outdoor leisure, we sell a premium range of camping equipment including brands such as Vango and Outwell. Halfords offers customers expert advice and a fitting service called "wefit" for car parts, child seats, satellite navigation and in-car entertainment systems, and a "werepair" service for cycles.

Cautionary Statement

This report is based on information from unaudited management accounts and contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Halfords Group plc.  These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future.  There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements.  These forward-looking statements are made only as at the date of this announcement.  Nothing in this announcement should be construed as a profit forecast.  Except as required by law, Halfords Group plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.

 

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