THG PLC (LSE:THG) said it has completed the refinancing of its debt facilities, extending maturities out to 2029.
The online retail and technology company said the move follows a comprehensive refinancing process. As part of the transaction, the company has extended the maturity of €445 million of its Term Loan B to December 2029.
THG also repaid £74 million of its Term Loan A and the remaining €155 million of Term Loan B using a mix of existing cash and an equity contribution.
In addition, the company extended its £150 million revolving credit facility from May 2026 to May 2029.
The refinancing lowers THG’s net total leverage, excluding leases, from 3.2x to 2.2x based on 2024 adjusted EBITDA of £92 million. The company said it remains fundamentally cash-generative and is targeting a neutral net cash/net debt position.
THG said it will provide further details on its 2024 performance in preliminary results and a Q1 update due on or around 30 April.