Frasers Group enters into new term loan and revolving credit facility

Retailer Frasers Group said on Wednesday that it has now entered into a new term loan and revolving credit facility with its banks, replacing its existing facility of £913.5m in the process.

Frasers said the new facility, which was valid for three years, will provide the group with access to borrowings of up to an aggregate amount of £930.0m.

The FTSE 250-listed firm added that the facility also included an accordion option to increase it to £1.2bn.

As of 0945 GMT, Frasers shares were up 2.43% at 696.50p.