16 December
2024
Inspecs Group plc
("Inspecs" or "the
Group")
Banking
Facilities - Renewal to 2027
Inspecs Group plc, a leading
designer, manufacturer and distributor of eyewear (sunglasses,
optical frames, lenses and low vision products) is pleased to
announce that it has successfully refinanced its existing banking
arrangements with HSBC UK Bank plc, extending their maturity to
2027.
The debt facilities consist of a
three-year Multicurrency Revolving Credit Facility of 38m Euro and
a 12m Euro Term Loan, together with an accordion option to extend
the facility if the Group chooses to. The new facilities will
provide the Group with increased financial flexibility for the next
three years with an option to extend for two further years subject
to bank consent.
Chris Kay, Chief Financial Officer of Inspecs Group plc,
commented:
"We are very pleased to have
refinanced and extended our banking facilities and would like to
thank HSBC UK Bank plc for its continued support."
For further
information please contact:
|
Inspecs Group
plc
Richard Peck (CEO)
Chris Kay (CFO)
|
via FTI
Consulting
Tel: +44 (0)
20 3727 1000
|
|
Peel Hunt
(Nominated Adviser and Broker)
George Sellar
Andrew Clark
|
Tel: +44 (0)
20 7418 8900
|
|
FTI Consulting
(Financial PR)
Alex Beagley
Harriet Jackson
Amy Goldup
|
Tel: +44 (0)
20 3727 1000
|
About Inspecs
Group plc
INSPECS is a leading provider of
eyewear solutions to the global eyewear market. The Group produces
a broad range of eyewear frames, low vision aids and lenses,
covering optical, sunglasses and safety, which are either "Branded"
(under licence or under the Group's own proprietary brands), or
"OEM" (unbranded or private label on behalf of retail
customers).
INSPECS is building a global eyewear
business through its vertically integrated business model. Its
continued growth is underpinned by six core pillars: increasing the
penetration of its own-brand portfolio, increasing distribution,
growing its travel retail markets, maximising group synergies,
expanding its manufacturing capacity and scaling the research and
development department as it develops new and innovative eyewear
products.
The Group has operations across the
globe: with offices and subsidiaries in the UK, Germany, Portugal,
Scandinavia, the US and China (including Hong Kong, Macau and
Shenzhen), and manufacturing facilities in Vietnam, China, the UK
and Italy.
INSPECS customers are global optical
and non-optical retailers, global distributors and independent
opticians. Its distribution network covers over 80 countries and
reaches approximately 75,000 points of sale.
More information is available at:
https://inspecs.com.