Fnac Darty decides the withdrawal of the offering of €300 million senior bond issue due January 2029
September 13 2023 - 12:20PM
Fnac Darty decides the withdrawal of the offering of €300 million
senior bond issue due January 2029
Ivry-sur-Seine, France —September 13, 2023
Fnac Darty
decides the
withdrawal of the
offering of €300 million senior bond
issue due January 2029
Following its press release of September 12,
2023, Fnac Darty decides, today, the withdrawal of the offering of
€300 million senior bond issue due January 2029, given current
market conditions not enough attractive.
Fnac Darty benefits from a solid financial
structure, with no short-term maturities and no immediate
refinancing needs. Indeed, in the absence of the issue, the
Delayed-Draw Term Loan (DDTL), an undrawn bank credit line of €300
million dedicated to the refinancing of outstanding May 2024 senior
bonds, is maintained in its entirety. The DDTL has an initial
maturity of December 2025, with a possible extension to 2027, upon
lenders’ approval.
***
About Fnac DartyOperating in 12
countries, Fnac Darty is a European leader in the retail of
entertainment and leisure products, consumer electronics and
domestic appliances. The Group, which has more than 25,000
employees, had a multi-format network of 987 stores at the end of
December 2022, and is ranked as a major e-commerce player in France
(close to 24 million unique visitors per month on average) with its
three merchant sites, fnac.com, darty.com and
natureetdecouvertes.com. A leading omnichannel player, Fnac Darty’s
revenue was around €8 billion in 2022, 22% of which was realized
online. For more information: www.fnacdarty.com
CONTACTS
ANALYSTS /
INVESTORS Domitille
Vielle domitille.vielle@fnacdarty.com+33
(0)6 03 86 05
02 Laura
Parisot laura.parisot@fnacdarty.com +33
(0)6 64 74 27 18
PRESS Audrey
Bouchard audrey.bouchard@fnacdarty.com+33
(0)6 17 25 03 77
- 20230913_FnacDarty_Withdrawal_Press Release FINAL
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