27 Aug 2013 10:10 GMT

Carphone Warehouse Group Plc ('Carphone Warehouse') has completed the syndication of a £400m Revolving Credit Facility ('RCF') and a £250m term loan. This facility is one of the largest underwritten transactions in the UK so far this year. Barclays was the joint underwriter, book-runner and mandated lead arranger for the deal.

The facility, arranged as part of the group's recent acquisition of Best Buy's 50% interest in Carphone Warehouse Europe, will additionally support its day to day working capital needs. Established 24 years ago, Carphone Warehouse is the largest independent telecommunications retailer in Europe, with retail operations in eight markets across the UK, Ireland and continental Europe.

Kevin O'Sullivan, Director in Barclays' Retail and Wholesale team commented: "Carphone Warehouse has consistently demonstrated an outstanding ability to perform successfully in a very competitive space. Our established relationship with the group ensured we were able to tailor and deliver this facility in a timely fashion as it looks to its future."

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