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Epic & Msn data
Epic DEB
Time: 16:35:28
Mid Price: 71.50
Change Today: -0.10 Descending
Change % Today: -0.14 Descending
Fifty Two Week High: 96.68
Fifty Two Week Low: 38.77
Market Capital: 920.07
Period & price data
Period Price
Now: 71.50
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: LSE
Sector: Consumer Services
Epic: DEB
News: Latest news
Web Site: Debenhams Plc
Other Articles: 15-09-200904-06-200923-04-2009

Debenhams Plc

.
Thursday, June 04, 2009

Debenhams raising £323 mln to repay debt, current trading robust

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Debenhams PLC (LSE: DEB) announced a £323 million fundraising to pay down debt and said it remains confident in the company's trading strategy and the outturn for the full year, even though the outlook for consumer confidence for the remainder of the 2009 financial year is uncertain.

Pretax profit and EBITDA for the 12 weeks to May 23 2009 were both ahead of the prior year, it said in a statement.

The department store chain plans to raise the money via a firm placing and a placing and open offer of new shares - making up 40 percent and 60 percent of the total, respectively - at a price determined by a market book build process which commences immediately and is expected to close later today.

Chief executive Rob Templeman said: “I believe that our trading for the year to date is a robust performance given the challenging nature of the market.  The proposed capital raising together with the cash generation of this business will substantially reduce the group's net debt position and it gives us operational and financial flexibility for the future.”

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