Committed bank credit facilities
In May 2024 the Group entered into a new £650m Revolving Credit Facility (RCF) agreement with a group of its relationship banks, linked to sustainability targets. In May 2026 the credit facility was extended by one year and now expires in May 2029. As of 31 July 2026, this RCF was undrawn.
The Group’s two term loans were refinanced in H1 2025/26. One loan was extended in H1 2026/27, with £50m maturing in January 2028 and £50m now maturing in June 2028, with the former linked to the Group’s sustainability targets.
The terms of the committed RCF and both term loans require that the ratio of Group operating profit (excluding adjusting items) to net interest payable (excluding interest on IFRS 16 lease liabilities) must be no less than 3:1 for the preceding 12 months as at the half and full year-ends. As of 31 July 2026, Kingfisher was compliant with this requirement.
