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Farfetch amends facility, adds $200 million delayed-draw term loan
By William Gullotti
Buffalo, N.Y., Aug. 17 – Farfetch US Holdings Inc., a wholly-owned indirect subsidiary of Farfetch Ltd. and ultimate parent Farfetch Holdings plc, entered into a second amendment on Aug. 11 to the credit agreement it signed with JPMorgan Chase Bank, NA as administrative agent in 2022, according to a 6-K filing with the Securities and Exchange Commission.
The amendment adds a $200 million delayed-draw term loan to the facility’s original $400 million term loan B, which matures Oct. 20, 2027.
The added delayed-draw term loan will be issued with a 5.6% original issue discount and will also mature on Oct. 20, 2027. It is fungible with the original term loan B and will amortize in quarterly installments of 0.2512562814% of the aggregate principal amount.
Borrowings bear interest at term SOFR plus a 625 basis point margin, subject to an interest floor of 0.5%.
J.P. Morgan Securities LLC is the bookrunner, with Wilmington Trust, NA serving as collateral agent.
Farfetch is a London-based online platform for the luxury fashion industry, connecting creators, curators and consumers.
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