German Beauty Retailer Tackles Debt With Hefty Equity Input
- Douglas GmbH is seeking to refinance $2.5 billion debt pile
- Company was due to repay most of its existing debt in 2022
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German beauty retailer Douglas GmbH is tackling its 2.1 billion-euro ($2.5 billion) debt pile after struggling through a series of pandemic-fueled lockdowns that shuttered its stores across Europe for almost a year.
The 179-year-old firm, owned by CVC, is seeking to refinance its bonds and loans with new debt supported by a 220 million-euro equity injection. CVC was coming under increasing pressure to find a solution as Douglas was due to repay most of its existing debt in 2022.