Sports company PUMA SE has successfully raised over €600 million (~$707.27 million) in new financing through a €500 million bridge loan and additional confirmed credit lines of €108 million (~$127.31 million). Both facilities are designed to provide interim liquidity to refinance the drawdown of the existing €1.2 billion revolving credit facility, thereby increasing overall flexibility and headroom.
Puma SE has raised more than €600 million (~$707.27 million) in new financing through a €500 million bridge loan and €108 million (~$127.31 million) in confirmed credit facilities to refinance the use of its €1.2 billion revolving credit facility. Underwritten by Santander CIB, the lines have a duration of up to two years and improve liquidity and financial flexibility as Puma finalizes its long-term financing structure.
The new 500 million euro bridge loan was fully financed by Santander Corporate & Investment Banking (Santander CIB). Both the bridge loan and the confirmed additional lines of credit have a maturity of up to 2 years.
Markus Neubrand, CFO of PUMA SE said: “While our existing revolving credit facility and promissory notes (Schuldscheindarlehen) remain continuously available, today's announcement will add further financial flexibility as we work to finalize our long-term financing structure. The fact that the Bank's partners have further increased their exposure and business, underlines confidence in our future business model and strategic direction. This will allow us to execute our strategic priorities and our ambition to establish PUMA as one of the top 3 sports brands globally.”
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Fiber2Fashion News Desk (HU)
