EG Group: makes significant progress on deleveraging

Blackburn / UK. (biegg) British EG Group published its trading update for the third quarter of 2023, representing the three months to September 30, at the end of November 2023. The company completed the sale of EG UK operations to Asda, bringing total debt repayment in 2023 to approximately four billion USD, significantly reducing the Group’s net leverage and strengthening its platform for international growth and the energy transition. EG successfully executed the refinancing of all 2025 maturities: completed the Amend + Extend of Term Loans, issued new Senior Secured Notes, secured Privately Placed Notes and agreed a new Bridging Facility to repay existing debt. In Q3-2023 EG reported growth across Foodservice, and Grocery + Merchandise, reaffirming its diversified earnings strategy – against a strong comparative quarter for fuel in 2022. EG also signed a Strategic deal with Tesla for EVpoint – EG’s proprietary branded ultra-fast charging point proposition – which further supports the Group’s transition to Net Zero. For additional information please read the company’s PDF file below (149 KB):