Lovehoney, a leading online retailer of sexual happiness products, has successfully secured a £50 million senior credit facility provided by a consortium of institutional banks including Barclays, Credit Suisse, and National Westminster Bank. Proceeds from the refinancing were used to refinance existing debt and will allow for additional flexibility to help accelerate Lovehoney’s growth and continued international expansion.
The refinancing was made possible by Lovehoney’s strong trading performance, consistently delivering double-digit year-on-year revenue and earnings growth.
“The strong demand from lenders in this refinancing reflects a high level of confidence in Lovehoney’s management team and strategy. The Company has attained significant milestones over the last twelve months and we remain extremely excited about the growth opportunities in the UK and internationally.” said Jacob Polny, Telemos Chief Investment Officer.
