H & M Hennes & Mauritz AB has signed a new 12 months EUR 980 m revolving credit facility with a 6 months extension option in order to further strengthen its liquidity buffer and financial flexibility in response to the Covid-19 situation. The H&M group’s liquidity remains good. The group is continuing its work to set up a combination of different financing solutions.
The new facility is in addition to the company’s undrawn EUR 700 m RCF signed in 2017 and maturing 2024.
The facility was supported by a group of H&M Group’s relationship banks. SEB acted as co-ordinator, joined by BNP Paribas, Danske Bank, Standard Chartered Bank and Commerzbank.
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 51 online markets and more than 5000 stores in 74 markets including franchise markets. In 2019, net sales were SEK 233 billion. The number of employees amounts to approximately 179000.