Very Group has bolstered its capital structure by extending and renewing key debt facilities, securing funding through to 2029 and beyond. The refinancing, completed under the company's owners Carlyle, aims to position the business for its next stage of growth.
© The Very Group
As part of the arrangements, all note classes within Very's UK securitisation facility have been extended to 1 February 2029, while the £150m super senior revolving credit facility now matures in February 2030. Following deleveraging conditions, the coupon rate on senior secured notes has been reduced from 13.5% to 9.75% with maturity extended to August 2030. Overall debt has been reduced by £150m with capital support from Carlyle.
Chief financial officer Edward Fry said the refinancing reflects lender confidence in the business, providing "a stable platform for continued investment in our digital and customer proposition" while maintaining disciplined balance sheet management. He added that Carlyle's support positions Very in a "robust financial position" to drive future growth.
The move follows reports that Carlyle plans to sell Very for around £2bn after acquiring the company from the Barclay family in 2025.
Source: www.retailgazette.co.uk
