Carpetright’s revolving credit facility bought by shareholder

Carpetright has announced that shareholder Meditor has agreed to buy its revolving credit facility from lenders NatWest and AIB.

The terms of the facility remain the same, having recently been reduced following the sale of two properties in Amsterdam.

NatWest and Ulster Bank will continue to provide the retailers overdrafts, with Meditor agreeing to participation agreements with the two banks, meaning that it will effectively provide funding.

Carpetright said in a statement: “Meditor has confirmed it now intends to engage with the company with a view to providing a more stable and longer-term funding platform.”