UK’s Frasers Group has just secured the largest retail deal of the year – so far!
The Mike Ashley-owned retail Group has announced that it has got around £1 billion in funding as a part of the largest funding package to be secured in 2021 in the British retail sector.
The deal will help the retail stalwart with access credit facilities and borrowing that totals £930 million. The Group plans to use the amount to enhance its growth strategies.
Notably, the much-talked about deal will help the Group refinance £913.5 million of existing loan facilities and add £16.5 million in additional funding.
It is important to state here that Frasers Group is committed to invest significantly across its portfolio of retail fascias and digital platforms, with a distinct intent to serve its customers with world’s best sports, premium and luxury brands.
The deal is supported by many lenders and ably led by HSBC UK.
Frasers Group, earlier known as Sports Direct International, generated £3,957.4 million in 2020.
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