Retail group B&M is aiming to raise £250m through the offer of senior secured notes. It says that it intends to use the proceeds for “general corporate purposes” and to pay fees and expenses incurred in connection with the offering of the notes which will be due to be repaid in 2028.
In the 26 weeks to September 25th, the retailer’s revenue reached £2.2 billion, which was up by 26.8 per cent on the same period two years ago. Group adjusted EBITDA had fallen, as had pre-tax profit for the period.
Boss Simon Arora said: “The group has performed strongly throughout the first half of our financial year, with customers continuing to be drawn to our value-for-money offer. We have responded decisively to supply chain challenges by leveraging our strong supplier relationships and we have improved in-store execution. As a consequence, we are fully stocked heading into the golden quarter, with stores already showcasing our excellent Christmas ranges.”
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