By Anthony O. Goriainoff
THG said it renegotiated several financing agreements, underlining its progress toward a neutral net cash, net debt position.
The U.K. e-commerce company--known as The Hut Group--on Friday said it agreed to extend the maturity of a 445 million euros ($491.9 million) loan to December 2029, and of an existing 150 million pounds ($196.5 million) revolving credit facility to May 2029 from May 2026.
The company also made a partial repayment on a 74 million pounds loan, it said.
"As a result of the proposed refinancing, net total leverage--excluding leases--decreases from 3.2x to 2.2x [3.2 times to 2.2 times] pre deal fees based on fiscal 2024 continuing adjusted Ebitda--excluding Ingenuity--of 92 million pounds," it said.
Logistics business THG Ingenuity was spun off earlier in the year so as to increase shareholder value.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
April 04, 2025 02:40 ET (06:40 GMT)
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