Moonpig Group PLC announced that it has agreed a new four-year, committed, multi-currency revolving credit facility ("RCF") of £180 million with a syndicate of banks. The Group's previous £175 million term loan and £80 million revolving credit facilities have been fully repaid and cancelled. The new RCF is fully available for general corporate purposes.

The new RCF has an initial maturity date of 29 February 2028 with an option to extend by one year, subject to lender approval. Borrowings are subject to interest at a margin over the relevant currency reference interest rate dependent on net leverage, with margins of between 2.00%-2.50% at net leverage levels of 1.0x-2.0x. The facility covenants are a maximum ratio of net debt to Adjusted EBITDA of 3.5x until 30 April 2025 and 3.0x thereafter and a minimum Adjusted EBITDA interest cover ratio of 3.5x for the term of the facility.

Each covenant is tested semi-annually.