ASOS plc (GB:ASC) has released an update.
ASOS plc has launched an offering of £250 million Convertible Bonds due 2028 and plans a concurrent repurchase of their £500 million Convertible Bonds due 2026, aiming to reduce net debt and extend debt maturity to support their ‘Back to Fashion’ strategy. The funds from a new joint venture with HEARTLAND, which acquired Topshop and Topman brands, and cash reserves will finance this strategic financial maneuver. With J.P. Morgan Cazenove managing the bond offering and repurchase, the company seeks to bolster financial flexibility and growth prospects.
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