StockMarketWire.com - Embattled retailer Debenhams said it would seek permission from holders of its 5.25% Senior notes due 2021 to tweak the terms of offering in a bid to secure new money facilities as it pursue restructuring options to secure the future of the business.

Debenhams said its 'consent solicitation' sought permissions required to allow the company to put in place both new money facilities on a secured basis of up to £200 million from its existing lenders and Noteholders and inter creditor arrangements.

It wold also seek consent to the post collateral against certain of the company's existing indebtedness.

The consent solicitation process would remain open until 5:00pm, London Time, on 28 March 2019, unless extended, amended or terminated by the company, Debenhams said.

'A successful consent solicitation would allow the company to enter into new money facilities and give Debenhams the ability to pursue restructuring options to secure the future of the business.'




At 9:52am: [LON:DEB] Debenhams PLC share price was -1.27p at 1.63p



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