Founded in 1969, DFS designs, manufactures, sells, and delivers a wide range of products including sofas, armchairs and recliners. The Pricoa team has maintained a regular direct calling relationship with DFS since early 2020. Our ability to offer longer-term, fixed-rate capital was attractive to DFS as a way to diversify the Company’s funding sources and increase liquidity, alongside the existing bank facility. As part of a wider refinancing process in 2023, we provided £50 million of private placement debt, split across 5- and 7-year bullet maturities.
DFS chose to partner with us given our differentiated capital offering, pre-existing relationship and consistency of coverage, which supported our deliverability.
We are excited to formalise our relationship with DFS through this investment, and we look forward to continuing to support the Company into the future.