New Look to raise £800mn & reduce debt

The proceeds from the offering, if completed, are expected to be used to

(i) repay all outstanding indebtedness under the Group’s existing senior facilities and existing mezzanine facility and to pay related accrued interest and break costs in connection with the cancellation of such facilities,

(ii) pay the cash consideration in connection with the Group’s concurrent exchange offer with respect to its existing payment-in-kind facility and

(iii) pay related fees and expenses in connection with the offering and related transactions.

About New Look

Founded in 1969, New Look is an established value fashion retail leader positioned in the growing value segment of the UK clothing and footwear market. As at December 22, 2012, the Group had 1,141 stores globally and in the 52 week period ended December 22, 2012, the Group generated revenues of £1,486 million and pro forma adjusted EBITDA of £198 million.

New Look