Liverpool’s B&M European Value Retail, the UK’s leading variety goods value retailer, said it will offer £250 million of sterling-denominated senior secured notes, due 2031.

The company said it intends to use the gross proceeds from the offering to repay the existing senior secured notes due 2025 and the full amount outstanding under the existing revolving credit facility as of 28 September 2024, for general corporate purposes, including for growth in working capital to support the increase in the number of stores and increased inventory in response to recent shipping disruptions, and to pay fees and expenses incurred in connection with the Offering.

The Notes will be senior secured obligations of the Company and guaranteed by certain of its subsidiaries. The Notes will rank pari passu in right of payment with the Company’s obligations in respect of its existing senior credit facilities and its existing £155.52 million 3.625% senior secured notes due 2025, £250 million 4.000% senior secured notes due 2028 and £250 million 8.125% senior secured notes due 2030.