Signet Jewelers Limited, the world’s largest retailer of diamond jewellery, announced further updates to initiatives aligned with its Inspiring Brilliance strategies.
The company has renegotiated its $1.5 billion asset-based lending facility, which now matures in 2026, contains less restrictive covenants, and affords greater financial flexibility.
Signet also entered into new, long-term receivable purchase agreements, which provide it with improved terms and fully remove consumer credit risk from its balance sheet. “We are excited to announce two significant financial milestones today,” said Joan Hilson, Chief Financial & Strategy Officer. “These actions, as well as S&P’s recent upgrade of Signet’s issuer credit rating resulting from our enhanced financial profile, demonstrate the progress we are making with our Inspiring Brilliance growth strategy.