TOM TAILOR GROUP successfully completes early refinancing and secures long-term favourable financing conditions
- Establishment of credit volume of EUR 400 million over five years - Securing of favourable financial conditions as well as a reduction of current finance costs - Bank consortium reduced from twelve to eight banks - Clear oversubscription emphasises solidity and confidence in the Group
Hamburg, April 11th 2018. On 29 March 2018, TOM TAILOR GROUP completed the early refinancing of its current syndicated loan agreement. The new agreement has a duration of five years and comprises a total volume of EUR 400 million. In addition to the successful implementation of the increase in capital from the previous year, this represents a further cornerstone of the Group's strategic long-term financing.
Seen against the background of the successful implementation of the RESET Programme and the ensuing positive business performance as well as the clear reduction of the debt ratio from 2.9x EBITDA in 2016 to 1.3x EBITDA in 2017, the new credit agreement represents substantially better conditions and will thus lead to lower finance costs in future. Furthermore, the credit records have been simplified and adapted to the needs of TOM TAILOR GROUP. The high interest of banks allowed for a reduction of the consortium under the leadership of BNP PARIBAS S.A., the LANDESBANK BADEN-WÜRTTEMBERG and UNICREDIT Bank AG from twelve to eight credit institutions.
"Thanks to the new financing package, we have secured the long-term financing of TOM TAILOR GROUP and have increased our flexibility to actively move forward with the planned growth initiatives," said Thomas Dressendörfer, CFO of TOM TAILOR Holding SE. "The substantial oversubscription emphasises the confidence of the banks in the future direction of TOM TAILOR GROUP."
ABOUT TOM TAILOR GROUP
TOM TAILOR GROUP is an international, vertically integrated fashion company focussed on casual wear in the medium price segment. The product portfolio is complemented by an extensive range of fashionable accessories. With its brands TOM TAILOR and BONITA, the company covers the various core segments of the fashion market.
The TOM TAILOR brand is marketed through the retail and wholesale segments, and thus through single-label stores as well as wholesale partners. These include 462 TOM TAILOR stores and 197 franchise stores, 2,439 shop-in-shops and around 7,700 multi-label points of sale. The brand is present in more than 35 countries.
Along with its 860 retail stores, BONITA now has 56 shop-in-shop spaces.
The collections of both brands are also available through their respective online shops
Information is also available at www.tom-tailor-group.com and www.BONITA.eu
Lena Christin Wulfmeyer Head of Corporate Communications TOM TAILOR GROUP Phone: +49 (0) 40 58956-420 Email: email@example.com
INVESTOR CONTACT Viona Brandt Head of Investor Relations TOM TAILOR GROUP Telefon: +49 (0) 40 58956-449 E-Mail: firstname.lastname@example.org
11.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: TOM TAILOR Holding SE Garstedter Weg 14 22453 Hamburg
Germany Phone: +49 (0) 40 589 56 0 Fax: +49 (0) 40 589 56 398 E-mail: email@example.com Internet: www.tom-tailor-group.com ISIN: DE000A0STST2 WKN: A0STST Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service