Very Group refinances debt and extends maturities to 2030

UK online retailer The Very Group has refinanced key borrowings, extending maturities to 2029-2030 and cutting costs after reducing debt by £150m ($203.9m). Backed by owner Carlyle, the refinancing extends all note tranches within the group’s £1.77bn UK securitisation facility to 1 February 2029 on improved margins. The company has also renewed its £150m super senior revolving credit facility, pushing its maturity to February 2030. After meeting a deleveraging condition on its senior secured notes, the ...