Farfetch Holdings Plc, Co's Unit, Entered Committed First Lien Delayed Draw Term Loan Facility In Principal Amount Of $500M
Farfetch Holdings Plc, Co's Unit, Entered Committed First Lien Delayed Draw Term Loan Facility In Principal Amount Of $500M
– SEC Filing
On December 18, 2023, Farfetch Holdings plc ("FF PLC"), a public limited company organized under the laws of England and Wales and a wholly owned direct subsidiary of Farfetch Limited, informed the board of directors of Farfetch Limited (the "Board") that it had entered into (i) a committed first lien delayed draw term loan facility in an aggregate principal amount of $500 million (the "Bridge Loan Facility") with certain direct and/or indirect subsidiaries of FF PLC, as borrowers and/or guarantors and Athena Topco LP, a Delaware limited partnership ("Athena Topco"), an entity owned by Coupang, Inc. ("Coupang"), and funds managed and/or advised by Greenoaks Capital Partners LLC ("Greenoaks"), as lender (the loans drawn on the Bridge Loan Facility from time to time, collectively, the "Bridge Loans") and (ii) a transaction support agreement (the "Support Agreement") with, among other parties, Farfetch Limited, Athena Topco and an ad hoc group of lenders (the "AHG") holding in excess of 80% of the outstanding term loans (the "Term Loans") under the existing credit agreement of FF PLC and certain of its direct and/or indirect subsidiaries, dated October 20, 2022, as amended on April 7, 2023, and as further amended on August 11, 2023 (the "Credit Agreement"; and the Credit Agreement as amended by the third amendment to be entered into on December 18, 2023 (as further described below), the "Amended Credit Agreement").
— 美国证券交易委员会备案
2023 年 12 月 18 日，Farfetch Holdings plc (”FF PLC“）是一家根据英格兰和威尔士法律组建的上市有限公司，也是Farfetch Limited的全资直接子公司，它向Farfetch Limited董事会通报了Farfetch Limited（板“) 它已签订 (i) 承诺的第一留置权延迟提款定期贷款机制，本金总额为5亿美元（即”过桥贷款机制“) 与作为借款人和/或担保人的FF PLC的某些直接和/或间接子公司以及特拉华州有限合伙企业Athena Topco LP（”雅典娜·托普科“），Coupang, Inc. 旗下的实体（”Coupang“），以及由Greenoaks Capital Partners LLC管理和/或咨询的基金（”格林奥克斯“），作为贷款人（不时通过过渡贷款机制提取的贷款，统称为”过桥贷款“) 和 (ii) 交易支持协议（支持协议“) 除其他各方外，还有 Farfetch Limited、Athena Topco 和一组特设贷款人（啊“) 持有超过 80% 的未偿定期贷款（该”定期贷款“) 根据FF PLC及其某些直接和/或间接子公司于2022年10月20日签订的现行信贷协议，该协议于2023年4月7日修订，并于2023年8月11日进一步修订（”信贷协议“；以及经第三修正案修订的信贷协议，将于2023年12月18日生效（详见下文），”经修订的信贷协议“)。
Farfetch Limited and its financial advisors have conducted a thorough and extensive process to secure additional liquidity for Farfetch Limited and its subsidiaries. Without such liquidity, Farfetch Limited and its subsidiaries would have been unable to continue as a going concern. The Board is disappointed that the process has not resulted in a solution that ensures that Farfetch Limited, the listed entity, remains a going concern. However, the Board is pleased to see that FF PLC has successfully secured a solution that ensures the continued operations of its business and that it will continue to serve the network of brands, boutiques and consumers depending on the FARFETCH Marketplace every day.
Farfetch Limited及其财务顾问已经进行了彻底而广泛的流程，以确保Farfetch Limited及其子公司获得额外的流动性。没有这样的流动性，Farfetch Limited及其子公司将无法继续经营下去。审计委员会感到失望的是，该程序未能达成确保上市实体Farfetch Limited继续经营的解决方案。但是，董事会高兴地看到，FF PLC成功地获得了确保其业务持续运营的解决方案，并将继续为每天依赖FARFETCH Marketplace的品牌、精品店和消费者网络提供服务。