Woolworths has agreed a refinancing package, with new four-year loan facilities totalling £385 million.
The deal comprises a£350 million secured asset-based lending facility arranged and underwritten by Bank of Ireland subsidiary Burdale Financial and GMAC Commercial Finance, plus a further loan of£35 million provided by ADM Capital.
The retailer said the debt facilities will support the growth of its wholesale businesses 2 entertain and Entertainment UK. “The new financing arrangements provide the group with flexible long-term facilities, which will enable its continued development and support the growth in the entertainment wholesale businesses,” said Woolworths finance director Stephen East.
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