The Hut Group secures £770m revolving credit facility from Shanghai Pudong Development Bank
The revolving credit facility will support major investments in beauty, technology and infrastructure.
The Hut Group operates a major global online beauty and wellbeing retail business alongside a proprietary e-commerce technology platform. The Manchester-based group runs numerous localised websites trading internationally.
The Hut Group has secured a credit facility of £770m from Shanghai Pudong Development Bank alongside additional property financing. The capital will support upcoming investments in beauty, technology and infrastructure as the group expands its global operations. The transaction involves participation from a syndicate of major banking partners.
From the founder
"We are thrilled to build on the continued support shown by our banking syndicate and also very much look forward to working with our new partners. We value their support and the partnership we have developed with each of them."
Matthew Moulding
Founder and Chief Executive Officer at The Hut Group
Investor perspective
"We are delighted to join The Hut Group’s core banking facility at this exciting time in the company’s development. This transaction is in line with the banks strategy of facilitating UK corporates with their trade flows to China and underlines our confidence in the THG management team."
Andrew Woods
Relationship Manager, Shanghai Pudong Development Bank
Use of funds
- 01Build out infrastructure
- 02Fund acquisitions
Investors
Graham Holland
Barclays
Andrew Woods
Shanghai Pudong Development Bank
Intesa Sanpaolo
Steven Estill
HSBC
Santander
Citibank
JP Morgan
NatWest
Bank of Ireland
Lloyds
AIMCO
SVB
Categories
About the company
The Hut Group
The Hut Group operates international online beauty and wellbeing retail brands powered by proprietary e-commerce technology.