TED Ted Baker Plc

TIDMTED

RNS Number : 6517Z

Ted Baker PLC

25 May 2021

Ted Baker plc

("Ted Baker" or the "Group")

Successful bank refinancing

Ted Baker Plc, the global lifestyle brand, is pleased to announce that it has signed an extension to its revolving credit facility with its existing lending syndicate.

The new agreement extends the revolving credit facility maturity to November 2023 and amends the covenants. Combined with Ted Baker's strong net cash position of GBP66.7m at the end of the financial year 30 January 2021, this ensures the Group has the necessary cash and liquidity to continue the successful delivery of its transformation plan.

Under the new agreement, the existing RCF of GBP108m maturing in September 2022 and restricted RCF of GBP25m maturing in January 2022, will be replaced by a new RCF of GBP90m reducing to GBP80m in January 2022 until maturity in November 2023. The existing lending syndicate continues to show ongoing support to the Group.

The amended revolving credit facility includes among other changes amendments to the adjusted EBITDA covenant tests, providing further financial flexibility for the Group.

For further information please contact:

Tulchan Communications

Tel: +44 (0) 20 7353 4200

Jonathan Sibun / Jessica Reid

www.tedbaker.com

www.tedbakerplc.com

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May 25, 2021 02:00 ET (06:00 GMT)

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