British online fashion retailer Asos said on Thursday a £238 million ($319 million) refinancing would improve its liquidity headroom and reduce its interest bill, sending its shares higher.
Asos stock was up 4 percent, paring 2025 losses to 47 percent, after it said it had agreed a new £150 million term loan and an £87.5 million delayed draw term loan with a syndicate of private lenders.
The loans are committed for five years to November 2030 and bring a £5 million reduction in annual interest costs versus the previous facility provided by Bantry Bay.
Asos warned on annual revenue in September, blaming weak consumer demand.
The group has been working to revive its fast-fashion appeal among its core base of shoppers in their 20s, while cutting costs amid intensifying competition from Chinese rivals and the impact of US trade tariffs.
It will publish 2024/25 results on November 21.
By James Davey
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