// B&M looks to secure financial boost of £250m
// The retailer said it aims to offer senior secured notes which would be due in 2028
B&M has announced plans to secure a financial boost of £250 million after facing challenging trading conditions.
The retailer said it aims to offer senior secured notes which would be due in 2028.
A senior note is a type of corporate bond and would be paid before a junior note if a company enters bankruptcy.
READ MORE: B&M revenue smashes £2bn but warns of “uncertain” second half
Senior notes are typically unsecured debt and they aren’t secured by collateral.
B&M said it aims to use the gross proceeds for “general corporate purposes” and to pay fees and expenses incurred in connection with the offering of the notes.
The retailer saw a group revenue of £2.268 billion for the six months to September 25, up from £2.242 billion.
UK sales increased from £1.885 billion to £1.909 billion. Pre-tax profits were at £241.3 million, up from £235.6 million.
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