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PRIVACY
Retail & Consumer

Discount retail giant B&M reveals plans to secure 拢250m boost

The company recently reported its half-year results

A B&M store(Image: Derby Telegraph)

Discount retail giant B&M has revealed plans to secure a financial boost of £250m.

The Liverpool-headquartered company, which is listed on the London Stock Exchange, intends to offer senior secured notes which would be due in 2028.

A senior note is a type of corporate bond and would be paid before a junior note if a company enters bankruptcy. Senior notes are typically unsecured debt and they aren't secured by collateral.

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In a statement, B&M said it intends to use the gross proceeds for "general corporate purposes" and to pay fees and expenses incurred in connection with the offering of the notes.

The move comes after its chief executive hailed the retail giant's performance during the first half of its financial year and said it is "well placed" going into the 'Golden Quarter'.

Last week it reported a total group revenue of £2.268bn for the six months to September 25, 2021, up from £2.242bn.