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 2025 the credit facility was extended by one year and now expires in May 2028. As of 31 January 2026, this RCF was undrawn.
The Group’s two term loans were refinanced in H1 25/26 with £50m now maturing in June 2027 and £50m in January 2028, with the latter 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 January 2026, Kingfisher was compliant with this requirement.
