ASOS PLC Update on ASOS’ refinancing and use of proceeds

RNS Number : 6617D

ASOS PLC

11 September 2024

 

11 September 2024

 

ASOS plc
("ASOS" or the "Company")

 

Update on ASOS' refinancing and use of proceeds

 

 

 

Following the successful placement of Convertible Bonds due 2028 and concurrent repurchase of outstanding Convertible Bonds due 2026, ASOS confirms that:

·      £253m was exchanged into the Convertible Bonds due 2028, from the Convertible Bonds due 2026,

·      £173.4m of the Convertible Bonds due 2026 was accepted for repurchase, and

·      £73.6m remains in the Convertible Bonds due 2026.

 

There is therefore outstanding £73.6m of Convertible Bonds due 2026 and £253m of Convertible Bonds due 2028.

 

As a result of the net proceeds from the sale of a majority stake in the Topshop and Topman IP to a Joint Venture and the discounted repurchase of the Convertible Bonds due 2026, ASOS' net debt position has been reduced by approximately £150m. 

 

 

For further information:

ASOS plc	Tel: [phone]
Emily MacLeod, Head of Strategy & Investor Relations
Teneo	Tel: [phone]
Jonathan Sibun / Will Palfreyman

 

About ASOS

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 nearly 50,000 products, sourced from nearly 900 global and local third-party brands alongside a mix of fashion-led own brand labels - including ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, and Miss Selfridge. ASOS aims to give all its customers a truly frictionless experience, with a number of different payment methods and hundreds of local deliveries and return options, dispatched from state-of-the-art fulfilment centres in the UK, US, and Germany.

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