Dixons nets looser covenants for £300m refi

27 May 2012

UK electrical goods retail chain Dixons has signed a new £300m revolving credit facility with a maturity of June 30 2015 to replace an existing loan that was due to expire in 2013. Dixons’ lenders have also agreed to relax the company’s financial covenants.

The new loan will be reduced to £200m by September 2014, the company said, in line with the group’s expected requirements and objectives.

Dixons (B1/-/B) said it remained on track to redeem its £160m 6.125% bonds due in November 2012, as Moody’s predicted in December. The company has ...

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