The Hut Group turns on charm with its first Term Loan B
Beauty-focused e-commerce company The Hut Group (THG) is building up its war chest with a £510m-equivalent Term Loan B issue. The fully underwritten issue will test the investors’ interest in the sprawling, privately-held company with ambitions in both online stores and tech services, with risky side trips to real estate.
The seven-year TLB will come with covenant-lite terms, following the trend in leveraged finance.
Citi, Barclays and HSBC are joint global co-ordinators on the loan with Santander, JP Morgan and NatWest also running the books.THG is also launching a five year £150m new revolving credit facility, underwritten ...
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