KMD Brands, the New Zealand-based parent of Rip Curl, Oboz and Kathmandu, has reportedly completed a share consolidation that involved a 1-for-25 reverse stock split. The company also said it completed the refinancing of its existing debt facilities, raising NZ$2.08 billion ($1.2 bn) through a syndicated sustainability-linked multi-currency revolving facility.
KMD said the new facility, with a term of up to 2.5 years, includes NZ$43 million in tranches maturing June 30, 2027, and provides the company with funding through October 1, 2028.
KMD stated, “The refinanced facility provides KMD with a stable, long-term capital structure that, in combination with the proceeds from the equity raising successfully completed in April 2026, is expected to provide sufficient liquidity to fund working capital requirements. The facility provides KMD with operational flexibility as it continues to execute its Next Level transformation and further reduces leverage over the longer term to a ratio of <0.5x Net Debt/EBITDA. The new facility also continues to build on the company’s previous sustainability-linked loan structure with revised targets that incorporate a pricing mechanism that incentivizes ongoing improvement in achieving the Group’s key environmental, social and governance (ESG) objectives.”
Image courtesy KMD Brands
