Naked Wines plc announced further to the company's announcement on 20 March 2024, the company announced the completion of a new credit facility with PNC Bank, N.A. The new facility replaces the facility previously in place with Silicon Valley Bank. The key terms of the new facility are: Headline facility size of $60 million, secured against global wine assets, with available liquidity based on inventory holding value; Facility term of 5 years; Margins, dependent on facility headroom, of SOFR plus 2.75% to 3.25%; A single financial performance covenant, requiring fixed charge cover to be greater than 1.2x, but only tested if outstanding available liquidity is less than $12 million.