Home / Knowledge / News / Apparel/Garments / Sports Direct successfully refinanced its banking arrangements
Sports Direct successfully refinanced its banking arrangements
10
Mar '11
Sports Direct International plc, the UK's leading sports retailer, announces that it has successfully refinanced its banking arrangements. The new three year unsecured facility is for £220 million through a club of ten banks led by HSBC, Barclays and Handelsbanken.

The facility has the normal associated banking covenants and the level of interest cost is dependent upon the Group's level of borrowing and profitability. At the Group's current level of debt, the interest rate payable is 175 basis points over LIBOR.

In March 2010 the Competition Commission formally cleared Sports Direct's acquisition of 31 stores from JJB Sports plc. In October 2010 the Serious Fraud Office completed its investigation into Sports Direct and JJB Sports, bringing no charges against any company or companies within their corporate groups but continued the investigation in relation to individuals. We can confirm that no individuals connected to Sports Direct International plc are under investigation.

Dave Forsey, Chief Executive of Sports Direct International plc, said:

"We are delighted to announce the refinancing of the Group's banking arrangements and would like to thank our new banks for their support. The facility provides the Group with ample funding to pursue its business and strategic objectives."

Sports Direct International plc

Must ReadView All

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

View of YiwuTex 2016; Courtesy: YiwuTex

Textiles | On 28th Feb 2017

Smart knitting system to grace 18th YiwuTex 2017

The thematic functional knitting machinery zone at the 18th YiwuTex...

Textiles | On 28th Feb 2017

Over 100 exhibitors expected to participate in IATF

Over a 100 exhibitors are expected to showcase their products at the...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search