Hobbs owner TFG London completes £90m refinancing deal

TFG London, the owner of Hobbs, Whistles and Phase Eight, has secured a £90 million refinancing facility "to support strategic growth ambitions".

The new £90 million facility, a successful refinancing of its existing £60 million debt facility, will provide flexibility for further investment in its brand platform, including organic expansion both in the UK and internationally, as well as supporting the group’s longer term acquisition strategy.

The debt facility was provided by a banking syndicate including Barclays, Lloyds Bank, Natwest and Absa.

Matt Wilson, Chief Financial Officer at TFG London, said: "We are delighted to announce this successful transaction, marking an important milestone in our journey and placing us on a firm footing for sustainable, long term growth.

"This refinancing further strengthens our balance sheet and supports us with our medium term growth ambitions. We would like to express our sincere thanks to our banking partners for their continued support, reinforcing the solid foundation we have built as we look to the future."

TFG London acquired Phase Eight in 2015, followed by the later acquisitions of Whistles and Hobbs. In March last year, the group also launched its own homeware offering, Inside Story.

TFG London’s brand platform provides its portfolio with operational support across key functions, while affording them full control over brand experience, product design, buying and merchandising.

The group now operates over 580 points of sale across its brands in 15 international markets.