Upholstered furniture retailer DFS has announced the successful completion of a new £200m Revolving Credit Facility (RCF) and £50m issue of US Private Placement notes.

Together, these replace the existing £215m credit facility. The £200m RCF which has been agreed with existing banking partners, will mature in September 2027 and includes an option to extend a further 16 months subject to lenders’ agreement.

The terms of the RCF are in line with the previous £215m facility and are consistent with those applicable to the £50m USPP notes. The notes will mature in September 2028 (£25m) and September 2030 (£25m).

John Fallon, the Group’s Chief Financial Officer, said: “The successful renewal of our lending facilities is a strong positive endorsement of the confidence the Group maintains with our long term banking partners and the wider credit market. It provides additional liquidity over the longer term as well as flexibility to pursue all our strategic objectives.”