TFG London, the owner of fashion brands Phase Eight, Whistles and Hobbs, has secured £90m in funding to support its growth strategy.
TFG, also known as The Foschini Group, has successfully refinanced its existing £60m debt facility and secured an additional £30m to bolster its growth ambitions.
TFG said the new debt facility marks a “significant step” in its plans and provides the business with “flexibility for further investment” in its brand portfolio and expansion both in the UK and internationally.
The new funding facility was provided by a banking syndicate, which includes Barclays, Lloyds Bank, Natwest and Absa. TFG was advised by Argyll Debt Advisory and Bryan Cave Leighton Paisner.
TFG London chief financial officer Matt Wilson 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 acquired Phase Eight in 2015 and later acquired Whistles and Hobbs in 2016.
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