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Farfetch launches $400 million term loan B at SOFR plus 600-625 bps
By Sara Rosenberg
New York, Sept. 20 – Farfetch US Holdings Inc. held a lender call at 10 a.m. ET on Tuesday to launch a $400 million five-year covenant-lite first-lien term loan B that is talked at SOFR plus 600 basis points to 625 bps with a 0.5% floor and an original issue discount of 95, according to a 6-K filed with the Securities and Exchange Commission.
The term loan is non-callable for one year, then at 103 in year two and par thereafter.
JPMorgan Chase Bank is the lead on the deal and the administrative agent.
Commitments are due at noon ET on Sept. 27.
Proceeds will be used for general corporate purposes, working capital and funding of transaction fees and expenses.
Farfetch is a London-based online platform for the luxury fashion industry, connecting creators, curators and consumers.
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