High Court in England approved the Poundland restructuring

High Court in England (the High Court of England and Wales) approved the Poundland restructuring, Pepco Group said in a press release.

As stated, among the key elements of the restructuring plan is new liquidity support, according to which Pepco Group will grant Poundland a credit line in a current account up to 30 million GBP, which will ensure additional flexibility in the financing of working capital. There will also be a conversion of debt to capital, and unsecured loans previously granted by the Pepco Group to Poundland will be repaid not in cash, but by issuing the shares of 1903 Peach Bidco Limited – the mother of the Poundland Group. Pepco Group will also include a minority packet of shares, which will allow it to participate in the long -term increase in the Poundland value.

It has been added that the existing loan secured in the amount of 30 million GBP from the Pepco Group, whose original repayment date was on September 1, 2025, will be extended to September 1, 2030, which reduces the pressure on refinancing in a short period (PAP Biznes)

MBI/ ANA/