ASOS has refinanced its loan facility with a new syndicate of private lenders on much improved terms.
The new facility, lasting until November 2030, is comprised of a £150 million secured term loan and £87.5m delayed draw term loan.
The online fashion firm said the refinancing includes £87.5m additional liquidity headroom, and will cost it £5m less in annual interest.
It replaces the existing £75m revolving credit facility and £50m accordion facilities, which had been due in 2027.
Now entering what it calls the final phase of a multi-year turnaround, it said the improved financial terms “reflect the enhanced profitability and significant strategic progress of the company”.
Natasja Laheij (pictured), the company’s senior independent director, is set to succeed Jørgen Lindemann as chair with the release of the FY25 results on 21st November 2025.
Laheij is a former CFO for Google EMEA in its platforms, ecosystems and devices division, while she also served as CFO at Amazon Fashion EU as well as director of finance operations for EMEA at the eCommerce giant.
She also held sales operations director roles at Apple.
Jose Manuel Martínez Gutiérrez, currently an independent NED, will become senior independent director.
“I’m pleased to announce the further strengthening of our balance sheet and financial flexibility through this strategic refinancing,” said Aaron Izzard, ASOS CFO.
“As well as offering improved financial terms, it better positions us to deliver on the final phase of our turnaround strategy and growth plans with greater confidence and resilience.”