×
2 427
Fashion Jobs
AESOP
Retail Consultant | Fixed-Term | Part-Time | Brighton
Permanent · Brighton
PRETTYLITTLETHING
Senior Affiliate Marketing Executive
Permanent · MANCHESTER
BOOHOO
Ecommerce Trading Executive
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Dublin - 15 Hours - Part-Time, Permanent
Permanent · Dublin
SHISEIDO
Nars Account Manager - Harvey Nichols London (37.5 Hours)
Permanent · London
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
Translated by
Roberta HERRERA
Published
Feb 1, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tendam pays off its €132.5 million loan to ICO early

Translated by
Roberta HERRERA
Published
Feb 1, 2022

The Spanish conglomerate, owner of brands such as Cortefiel and Springfield, announced on Monday, Jan. 31, the repayment of the entire ICO loan that had been granted to the company in May 2020. This decision implies the company’s rapid post-pandemic recovery, as well as its good prospects and solid liquidity position. 


Tendam


As the company detailed in a press release, a syndicated loan of €112.5 million and a bilateral loan of €10 million was financed by Banco Santander, BBVA, CaixaBank, Société Générale, Bankia Générale, Bankia, Banco Sabadell and Crédit Agricole, as well as the Instituto de Crédito Oficial (ICO). The repayment of the loan, which will become effective during the month of February, has already been communicated by the company to the ICO and the other participating entities.

Tendam justifies the loan repaid four years before its maturity date given "the good performance in all operational and financial parameters, its capacity to generate cash and its robust liquidity position". Jaume Miquel, Chairman and CEO of the company, said that "the early repayment of the ICO loan is a natural consequence of the group's good performance in all its business and financial variables, and is in line with our desire to continuously improve all our financial ratios.”

The financial results reported just last week stated that in the third quarter of the financial year, Tendam raised its revenues by 31.3 % to €258.8 million and exceeded the sales figure of the third quarter of 2019 by €2.5 million. For the first nine months of the year, like-for-like sales were up 22.2 % compared to the same period in 2020 and up 0.7 % compared to 2019.

Today, the Spanish fashion company is present in more than 70 countries with more than 1,800 points of sale and owns eight different brands: Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits and Fifty. Its omnichannel strategy, which involves the implementation of an online multi-brand platform, also retails third-party brands.

Copyright © 2022 FashionNetwork.com All rights reserved.