Bantry Bay is pleased to announce that it has provided a loan facility of £275m to ASOS, the global online fashion platform.
The new long-term financing package is an important milestone in the company’s “Driving Change agenda”, replacing the existing revolving credit facility and strengthening its balance sheet.
José Antonio Ramos Calamonte, CEO, ASOS said: “We are pleased to have completed our refinancing with Bantry Bay, whose facility provides increased flexibility against a challenging macroeconomic backdrop and the stability to focus on long-term value creation.”
Jonathan Levine, Managing Director, Bantry Bay said: “We are delighted to support a leading online platform, and provide a stable base for ASOS’s continued execution of its strategy. This transaction demonstrates Bantry Bay’s ability to deliver debt facilities of significant scale, offering simplicity and creativity to corporates undergoing change.”
ASOS is a destination for fashion-loving 20-somethings around the world, with a purpose to give its customers the confidence to be whoever they want to be. Through its app and mobile/desktop web experience, available in nine languages and in over 200 markets, ASOS customers can shop a curated edit of over 60,000 products, sourced from nearly 900 global and local third-party brands alongside a mix of fashion-led own-brand labels – ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT. ASOS aims to give all of its customers a truly frictionless experience, with an ever-greater number of different payment methods and hundreds of local deliveries and return options, including Next-Day Delivery and Same-Day Delivery, dispatched from state-of-the-art fulfilment centres in the UK, US and Germany.