Sports company PUMA SE has successfully secured more than € 600 million in fresh financing through a bridge loan of €500 million and additional confirmed credit lines of €108 million. Both facilities are designed to provide interim liquidity to refinance utilizations of the existing €1.2 billion Revolving Credit Facility, therefore increasing overall flexibility and headroom.
The new bridge loan of €500 million was fully underwritten by Santander Corporate & Investment Banking (Santander CIB). Both the bridge loan and the additional confirmed credit lines have a maturity of up to 2 years.
Markus Neubrand, Chief Financial Officer of PUMA SE said: “Even though our existing Revolving Credit Line and the promissory notes (Schuldscheindarlehen) are staying continuously available, today’s announcement will add more financial flexibility as we are working to finalize our long-term funding structure. The fact that Bank partners have further increased their exposure and business, underscores the confidence in our future business model and strategic direction. This will allow us to execute on our strategic priorities and our ambition to establish PUMA as a Top 3 sports brand globally”.
