Tom Tailor - screen shot
14 Feb. 2012
TOM TAILOR COMPLETES REFINANCINGTom Tailor Holding AG has announced the completion of its group financing set-up. The company received a financing package with a volume of EUR 225 million that was provided by an international consortium of banks led by BNP Paribas, Commerzbank and IKB. The refinancing allows Tom Tailor to secure its preliminary financing requirements for new Tom Tailor retail stores over the next years. These financing requirements are part of the company’s growth. The new financing conditions have a duration of three years with a renewal option for additional two years. For the next few years Tom Tailor is thus in a solid financial position and has set an excellent basis to further continue its strategy of profitable growth.
As part of the refinancing package, collateral was reduced to a minimum, existing restrictions were waived and the number of performance indicators that have to be complied with was lowered. Due to the more favourable interest rates Tom Tailor also expects to realize savings for ongoing interest expenses over the next few years.
“We are delighted to have concluded a stable and future-oriented refinancing with our banks. We have been able to win new banking partners for Tom Tailor and have therefore built our financing on a broad and long-lasting basis. The involvement of leading international banks clearly shows that Tom Tailor has now entered a new dimension with its successful expansion,” said Dr Axel Rebien, Chief Financial Officer of Tom Tailor Holding AG.
Tom Tailor was advised by Herter & Co. during its refinancing.
|Back to home|
Discover our digital World