Waterstones secures £125 funding package to support next chapter of growth
Waterstones has secured a £125m funding package to support its future growth.
The facility, which has been jointly arranged by Barclays UK Corporate Bank and HSBC UK Bank, comprises a £75m term loan and a £50m revolving credit facility.
This comes as the retailer – which currently operates nearly 230 book stores across the UK, Ireland, and Europe – also plans to open two new bookshops within John Lewis stores in Cheadle, Greater Manchester, and Bluewater in Kent.
Karen Ashworth, chief financial officer at Waterstones, said: “Waterstones would like to thank Barclays and HSBC for their continued partnership in increasing the syndicated facility that supports the financing needs of the business.”
Karen Johnson, head of retail and wholesale at Barclays Corporate Banking, added: “We are delighted to be able to continue to support Waterstones with their financing requirements and are proud of this growing relationship.”
James Protheroe, senior relationship director at HSBC UK, said: “We are delighted to have supported on this upsized financing package for Waterstones, further cementing our relationship with this hugely popular UK retailer.”