Ashley offers Debenhams loan for CEO spot

Debenhams from company 230x150
By Mike Turner
14 Mar 2019

UK department store Debenhams is considering a £150m loan offer from its potential acquirer Sports Direct, in a deal that could bypass lending banks and see leadership of the company fall to Mike Ashley.

Sports Direct chief executive Ashley has offered Debenhams a £150m 12 month unsecured loan. 

Debenhams will use some of that to repay a £40m Libor plus 500bp bridge facility provided by some of its revolving credit line lenders in February. The rest of the Sports Direct financing will be ...

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