By Michael Susin
WH Smith said it successfully completed a refinancing through private placement notes and a term loan in order to boost its balance sheet.
The company, which sells books, magazines and other items at airports and train stations as well as high-street stores, said Tuesday that it completed a 200 million-pound ($258.5 million) issue of U.S. private placement notes, its first such issuance in the U.S. market, with a maturity of seven, 10 and 12 years.
It also agreed to a 120 million three-year bank term loan with two uncommitted extension options of one year each.
WH Smith's current 400 million-pound revolving credit line remains in place and matures in June 2029, it said.
The company said the refinancing will diversify its sources of debt and extend its debt maturity, and also give access to a new debt investor base in the future.
In January, the WH Smith said it was considering a possible sale of its high-street business.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 25, 2025 04:01 ET (08:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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