UK Online Retailer Asos Raises Equity, Refinances Debt
- Fast-fashion company is still struggling to generate cash
- Analysts warn further financing may still be necessary
A worker completes a customer's order at Asos Plc's distribution warehouse in Barnsley, U.K.
Photographer: Chris Ratcliffe/Bloomberg
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British online retailer Asos Plc unveiled a debt refinancing deal and raised £75 million ($93 million) in equity to support a turnaround plan.
The retailer’s largest shareholders, Danish fashion group Bestseller and US hedge fund Camelot Capital Partners, participated in the capital increase, Asos said Friday. Asos also obtained two new borrowing facilities that expire in April 2026, extending its debt deadline.