ASOS has announced the “successful refinancing” of its asset-backed loan facility into a secured term loan and delayed draw term loan (DDTL) with a new syndicate of private lenders.

The recovering company, which is due to report its full-year results at the end of next week, said the refinancing “brings materially improved financial terms, including £87.5 million additional liquidity headroom, increased financial flexibility over an extended five-year term to 2030, and a c.£5 million like-for-like reduction in annual cash interest costs versus the previous Bantry Bay facility”.

It means the company is entering “the final phase of its multi-year turnaround with a significantly strengthened balance sheet and the right level of flexibility to focus on re-engaging customers at scale. The imp

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