The transaction forms part of a wider restructuring of the debt-laden UK business. Carlyle converted a portion of its debt holdings into equity, taking '150m of capital in the company and reinforcing its ownership position. Carlyle had previously served as Very's main corporate lender under former owners the Barclay Brothers. It seized control of the retailer last year after converting debt into equity. Abu Dhabi-based IMI also became a significant lender under the restructuring. Both parties assumed ownership in November as the Barclays' wider business empire collapsed, with the family facing bankruptcy petitions from creditors. Alongside the equity injection, Very extended its UK securitisation facility to February 2029 and prolonged a '150m revolving credit facility to 2030. The company said the refinancing 'significantly strengthens the group's capital structure and leaves the business well-positioned for the next stage of its growth'. For Carlyle, the '150m injection...
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