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New Look secures refinancing package from Blazehill and Wells Fargo
New Look has successfully completed the refinancing of a £100m term loan and operating facilities, ahead of maturities in June 2024, with Blazehill Capital and Wells Fargo.
This comes at a time when the retailer continues to deliver on its strategic objectives, underpinned by its omnichannel strategy, fashion credentials and great value product.
The refinancing will support New Look with executing future growth plans. This includes upgrading existing sites to support omnichannel offering, enhancing digital capabilities and opening new stores including in Grimsby and Leicester.
Richard Collyer, Chief Financial Officer, New Look, said: “We’re pleased to have worked with Blazehill Capital and Wells Fargo on the successful refinancing of our £100m term loan. We now have a strengthened financial structure in place as we focus on continuing to deliver our strategy.”
Jake Hyman, Head of Origination, Blazehill Capital, said: “This transaction is another great example of Blazehill Capital’s ability to seamlessly deliver complex financing structures, helping businesses optimise their access to liquidity. We look forward to supporting New Look as it invests back into its operations and delivers on its strategy.”