Dixons nets looser covenants for £300m refi

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.

  • 28 May 2012

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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