Amendment and Extension of Senior Loan Facilities

Wm Morrison Supermarkets Limited

18 November 2024

 

AMENDMENT AND EXTENSION OF SENIOR LOAN FACILITIES

FOR IMMEDIATE RELEASE

18 November 2024

Further to the announcement of Wm Morrison Supermarkets Limited ("Morrisons") on 14 October 2024, Morrisons announces the successful amendment and extension of the Morrisons group's term loan facilities (the "Term Loan Facilities") and its revolving credit facility (the "Revolving Credit Facility"). Pursuant to the amendment and extension, the term of certain of the Morrisons group's Term Loan Facilities have, subject to customary springing mechanics, been extended to November 2030 and the margin applicable to such Term Loan Facilities has been reduced. In addition, the term of the Revolving Credit Facility has, subject to customary springing mechanics, been extended to August 2030.

In addition, the Morrisons group has reduced its level of debt by approximately £200 million under the Term Loan Facilities, which represents a further substantial reduction of the overall level of debt of the Morrisons group. Since the beginning of 2023, the Morrisons group has decreased its overall level of debt by £2.4 billion from its peak of approximately £6.2 billion to £3.8 billion.

Important Notice

This announcement is for informational purposes only and does constitute or form any part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of Morrisons or its group. This announcement is not for publication, distribution or release, directly or indirectly, in or into any jurisdiction in which the publication, distribution or release would be unlawful.

 

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