Revolving Credit Facility extension to May 2026

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] 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

Kate Grimoldby, Director of Investor Relations and Strategic Projects

Investor.Relations@thg.com

 

Media enquiries:


Powerscourt - Financial PR adviser

Tel: +44 (0) 20 7250 1446

Victoria Palmer-Moore/Nick Dibden/Russ Lynch

thg@powerscourt-group.com

 

THG PLC

Viki Tahmasebi

 

 

 

 

Viki.tahmasebi@thg.com

 



[1] 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 

Companies

THG (THG)
UK 100