Dixons agrees more favourable deal with lenders

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The Independent Online

Dixons Retail, owner of the Currys and PC World chains, has agreed a new £300m working capital facility withits syndicate of banks.

The electricals group said the financial covenants of its new facility – which extends the existing one for two years until June 2015 – had been "slightly relaxed... reflecting improving cash generation". Separately, Dixons Retail said it "remains on track" to meet its £160m bond repayment due in November.