ASOS PLC Announces Repurchase of Convertible Bonds

ASOS Plc has confirmed the repurchase of £90 million of its 2028 Convertible Bonds from current bondholders. This move is part of a strategic plan to optimize the company's capital structure. The repurchase reduces the outstanding bond principal from £253 million to £163 million. The transaction is financed through ASOS's liquidity resources, which totaled £328.3 million at the end of August 2026.

The repurchase is estimated to decrease ASOS's annual cash interest expenses by approximately £6 million, reflecting ASOS's ongoing efforts to boost profitability and strengthen its balance sheet. Settlement is expected by 17 November 2026, and the bonds will be canceled post-repurchase.

ASOS has entered a Lock-up Agreement with bondholders, who might support a consent solicitation to amend bond terms, enabling redemption of remaining bonds. However, no obligation or decision for such solicitation has been made.