Debenhams Group confirmed that following the successful consent solicitation concluded on 6 September 2019 (the "Consent Solicitation"), Debenhams has raised a new secured £50 million facility with certain of its existing lenders. This provides the group with an additional £50 million liquidity in order to cover peak trading, in particular the weeks running up to Christmas. This coincides with the normal seasonal peak of inventory requirement for the group. Debenhams expects its peak (Q1) and low (Q2) inventory levels for the financial year ending August 2020 to be within the c. £450 million to £270 million range, based on historical trends, noting that the portion of ineligible inventory is relatively consistent across the year, with a small increase around the Christmas peak trading period. The facility is subject to substantially the same pricing terms and utilisation mechanisms as the £200 million first lien facility announced on 29 March 2019, as refinanced by the £200 million first lien facility announced on 9 April 2019 (as amended from time to time). Through the Consent Solicitation, the holders of the £225,000,000 5.25% Senior Notes due 2021, of which £200,000,000 remains outstanding approved certain amendments to the Trust Deed and the Intercreditor Agreement, including permitting the drawing of a further £50 million of secured indebtedness. The group hereby announces that the Fifth Supplemental Trust Deed has been executed by all the parties thereto and the Proposed Amendments contained in the Fifth Supplemental Trust Deed have become effective. Capitalised terms used and not otherwise defined in this paragraph have the meaning given to them in the Consent Solicitation Announcement released by Debenhams on 3 September 2019.