The Hut Group Raises 1 Billion Pounds
The Hut Group has raised 1 billion pounds in order to invest more into its beauty and wellness brands, as well as its events division, the company said on Monday.
The money mostly consists of debt, including a 600-million-pound term loan, a new five-year 150-million-pound revolving credit facility from Barclays, HSBC, Santander, Citi, NatWest and JP Morgan, and 200 million pounds in secured debt and development facilities from Citi and CBRE Investment Advisory. That facility is going to The Hut Group's real estate holding business, Propco. The business also raised 66 million pounds in primary equity from BlackRock and Sofina.
The Hut Group intends to use the capital to invest in its brands, which include Espa, Illamasqua and Mio, and in Ingenuity, it's e-commerce platform.
"The expanded capital raising is a landmark achievement and provides an exceptional growth and investment platform for the business," said Matthew Moulding, founder and chief executive officer of The Hut Group. "The significant excess demand and new debt rating, during the time of the general election, demonstrate the strength of THG's business model and proposition and is further testament to the global model we've built."
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