Asos strengthens balance sheet with new five-year loan facility

Asos today announced the successful refinancing of its asset backed loan facility into a secured term loan and delayed draw term loan (DDTL) with a new syndicate of private lenders. The refinancing delivers materially improved financial terms, providing 87.5 million pounds in additional liquidity headroom, enhanced flexibility over an extended five-year term to 2030, and an estimated 5 million pounds annual reduction in cash interest costs compared to the previous Bantry Bay facility.

The move marks a significant milestone as Asos enters the final phase of its multi-year turnaround strategy with a strengthened balance sheet and increased capacity to re-engage customers at scale. The improved terms reflect the company’s enhanced profitability and progress made during the first two phases of its strategic transformation, focused on building sustainable and resilient foundations.

Commenting on the announcement, Asos CFO Aaron Izzard said: “I’m pleased to announce the further strengthening of our balance sheet and financial flexibility through this strategic refinancing. As well as offering improved financial terms, it better positions us to deliver on the final phase of our turnaround strategy and growth plans with greater confidence and resilience.”

In a planned leadership transition, Asos also confirmed that Natasja Laheij, currently senior independent director, will succeed Jørgen Lindemann as chair following the release of the FY25 results on 21st November 2025, after a thorough handover process. Jose Manuel Martínez Gutiérrez, an independent non-executive director, will assume the role of senior independent director on the same date.

ASOS will publish its FY25 results on Friday, 21st November 2025, providing further updates on its strategic and financial progress.