Facility to Boost Turnaround Plan and Cost Reduction Efforts

  • Superdry secures £25m secondary lending facility from Hilco Capital Limited
  • Facility has a 12-month term with option to extend
  • Interest rate at 10.5% plus Bank of England base rate on drawn element
  • Aims to accelerate turnaround plan and cost reduction programme
  • Complements existing asset backed lending facility with Bantry Bay Capital

Superdry has secured a £25 million secondary lending facility from Hilco Capital Limited. The 12-month term deal, with an option to extend, carries an interest rate of 10.5% plus the Bank of England base rate on the drawn element. This agreement aims to improve the company’s liquidity and accelerate its turnaround plan and cost reduction programme. The facility complements Superdry’s existing asset-backed lending facility with Bantry Bay Capital, helping mitigate the headroom cap on outstanding credit.

Factuality Level: 10
Factuality Justification: The article provides clear and concise information about Superdry’s deal with Hilco Capital Limited for a secondary lending facility worth £25m. It explains the term, interest rate, purpose of the deal, its relation to the existing agreement with Bantry Bay Capital, and the conditions that must be met upon signing. There is no irrelevant or misleading information, sensationalism, redundancy, personal perspective, or logical errors.
Noise Level: 2
Noise Justification: The article provides relevant and concise information about a financial deal between Superdry and Hilco Capital Limited without any unnecessary details or filler content. It explains the purpose of the deal and its implications for the company’s turnaround plan and existing credit agreement.
Financial Relevance: Yes
Financial Markets Impacted: Superdry and its existing lending facility with Bantry Bay Capital
Financial Rating Justification: This article discusses a financial deal between Superdry and Hilco Capital Limited, which impacts the company’s liquidity and its existing lending agreement with Bantry Bay Capital.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in this article.

Reported publicly: www.retailsector.co.uk