Furniture retailer DFS has announced the successful completion of a new £200m revolving credit facility (RCF) and £50m issue of US private placement (USPP) notes.

Together, the new facilities will replace the group’s existing £215m RCF.

DFS confirmed that the £200m RCF, which has been agreed with its existing banking partners, will mature in September 2027 and includes an option to extend a further 16 months subject to lenders' agreement.

The terms of this facility are in line with its previous £215m RCF and are consistent with those applicable to the £50m USPP notes. The group has confirmed that £25m of these notes will mature in September 2028 and the remaining £25m will mature in September 2030.

Chief financial officer at DFS, John Fallon, said: “The successful renewal of our lending facilities is a strong positive endorsement of the confidence the group maintains with our long-term banking partners and the wider credit market. It provides additional liquidity over the longer term as well as flexibility to pursue all our strategic objectives.”

DFS recently reported that it generated £544.5m in revenue during H1 this year.

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