Asos has announced that it is raising £500 million to fund its global growth strategy and to refinance the acquisition of Topshop brands.
The online fashion retailer relaunched the Topshop brand on its website after splashing out £295 million on three Arcadia brands from the administrators of the group, which went bust in November 2020.
Asos also bought Topman and Miss Selfridge from Sir Philip Green’s retail group following its collapse.
The company priced the offering, made up of senior unsecured guaranteed convertible bonds due 2016, through its subsidiary Cornwall.
The retailer said that the bonds will be issued at par and will carry a coupon of 0.75 per cent per annum.
HSBC and J.P. Morgan Cazenove acted as Joint Global Coordinators and Joint Bookrunners for the Offering.
Barclays and Citigroup Global Markets Limited acted as Co-bookrunners for the Offering.
Latest News
-
TikTok Shop launches pre-owned luxury fashion category
-
M&S launches postal donation service for second-hand clothing
-
CMA helps launch AI hub to guide developers on regulation
-
Third parties set to gain access to iPhone payment tech thanks to Apple-EU deal
-
Retail sales remain flat as department stores and food take a hit
-
New Look’s ESG targets approved by SBTi
The Very Group
Smarter merchandise planning across the retail value chain
In this webinar, Matt Hopkins, Head of Retail Solutions, Board, Catherine Tooke, SVP Product & Planning, Sweaty Betty, and Subir Gupta, Managing Principal, Thought Provoking Consulting join Retail Systems Editor Jonathan Easton to discuss the findings of the recent Retail Systems report The Merchandise Planning Challenge: How are retailers harnessing technology to optimise planning and retain customers? and examine the innovations that are improving retail planning.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories