The Very Group Refinances Debt with Carlyle Support

The Very Group, an online retailer, has completed a significant refinancing program to cut its debts by £150 million. Its owner, The Carlyle Group, converted some of The Very Group's debts into equity, providing £150 million in capital support. This deal also involved extending The Very Group's UK securitisation facility to February 2029 and a £150 million revolving credit facility to 2030. The refinancing aims to strengthen The Very Group's capital structure and position it for future growth, especially as The Carlyle Group continues to seek a sale of the company. International Media Investments also became a major lender to The Very Group when The Carlyle Group took control from the Barclay family last year, whose business empire collapsed.