Signet Jewelers draws $900 million under ABL revolver

By Sara Rosenberg

New York, March 23 – Signet Jewelers Ltd. borrowed $900 million under its ABL revolving credit facility on March 19, according to an 8-K filed with the Securities and Exchange Commission on Monday.

At the time of draw, the company had more than $1.2 billion in cash and an additional $292 million available under the ABL revolver.

The company drew on the ABL revolver as a prudent measure in order to increase its cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak.

Signet Jewelers is a Hamilton, Bermuda-based retailer of diamond jewelry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.