Douglas, the European market leader in selective beauty care, has today released its results for the fiscal year 2015/16 ending 30 September 2016. Douglas also announced a proposed repricing of its Term Loan B facility on January 17, 2017
Dusseldorf, January 19, 2017. Douglas, the leading European specialist retailer in the resilient selective beauty care market, has released its full fiscal year 2015/16 financial results to the market at 08:00 CET today.
Following CVC's acquisition of Douglas in August 2015 and capital structure optimization in July 2016, the Company has continued to demonstrate very strong financial performance, including in the quarter ended 31 December 2016, for which we have provided preliminary operating figures in the investor presentation released today. Douglas will be releasing its financial results for the three months ending 31 December 2016 on February 22, 2017.
Based on this strong operating and financial performance, Douglas is proposing to refinance its current Facility B with a New Facility B priced at E + 375-400 bps (0% floor). Existing lenders will have the ability to roll their existing exposure on a cashless basis.
The deadline for commitments is 17:00 CET, Tuesday, January 24, 2017, and the Amendment Effective Date is Thursday, February 17, 2017.
Deutsche Bank has been mandated as Physical Bookrunner and Global Coordinator, along with Goldman Sachs, JP Morgan and UniCredit as Joint Bookrunners.
With about 1,700 stores in 18 European countries, Douglas is the selective beauty care market leader in Europe. Its multi-channel offering – which is well integrated across the stores, online shop and mobile application – as well as its continually updated offering of more than 30,000 products make Douglas the frontrunner in the resilient selective beauty market. Supported by its about 18,000 highly qualified and committed employees, Douglas generated annual sales of about EUR 2.7 billion in the financial year 2015/2016.
More information is available at www.corporate.douglas.de.