GLAS partners with QVC Group on $600m asset-based financing

GLAS is pleased to have supported QVC Group, Inc. on its $600 million senior secured revolving credit facility.

The GLAS Americas team was appointed as Administrative Agent, Collateral Agent and Borrowing Base Agent on the transaction.

The financing was established as part of QVC Group’s financial restructuring and emergence from their Chapter 11 plan. The plan helped to support their growth and expansion of sales channels such as live social shopping across social platforms, streaming services, ecommerce channels and television networks. The plan also reduced the group’s debt by over $5 billion.

The QVC Group’s portfolio includes QVC, HSN and Cornerstone Brands.

About QVC Group

QVC Group is a leader in live social shopping, connecting consumers with products and brands through a combination of television, ecommerce, streaming and social commerce platforms. The company’s portfolio includes well-known retail brands such as QVC, HSN and Cornerstone Brands, serving millions of customers globally.

About GLAS

Founded in 2011, GLAS is a leading independent global provider of debt administration services. As a non-lender and conflict-free firm, GLAS supports both private and public credit markets, distinguishing itself through its expertise, reliability and independence.

With over $850 billion of assets under administration, GLAS is headquartered in London and has an established international presence, with offices in the United States, France, Germany, Spain, Italy, the United Arab Emirates, Singapore, Hong Kong and Australia.

For further information, please contact: media@glas.agency.