The Hut Group prices its first ever term loan
Sprawling e-commerce company The Hut Group completed a €600m term loan 'B' deal on Tuesday, changing its capital structure. The privately held company — touted as one of the few UK tech unicorns — has expansion ambitions in both online stores and web services, but is also making risky excursions into real estate.
The seven year loan was priced at 450bp over Euribor, with a floor at zero. As the initial price talk indicated, the loan was issued at a 99.00 original issue discount.This is THG’s first broadly syndicated loan and it marks a change in its capital structure. To ...
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