The bespoke ‘club refinancing’ involves three large Australian domestic banks and increases Accent Group’s debt facilities from $218.7m to $310m over a combination of three and five year terms.
The new facilities have been put in place to refinance prior debt and assist in funding Accent Group’s growth plans and new store rollouts in Australia and New Zealand.
The ABL team advising Accent Group was led by banking and finance partner Nathan Briner, with assistance from lawyers Crosby Radburn, Isabel Charny, and law graduate Chris Regester. Nathan Briner commented on the refinancing: “We’re very pleased to have worked with Accent’s finance and strategy team on this important transaction. Accent is a long-standing client and we look forward to continuing to support their growth aspirations”.