THG PLC (LSE:THG)'s €445m Term Loan B traded above par for the first time since it was issued in March 2025.
The price is the highest achieved by any THG TLB, including the group's prior €600m TLB, since November 2021 and follows successive positive trading updates across 2025 and 2026.
THG is a global e-commerce group and brand owner operating through its THG Beauty and THG Nutrition businesses.
The company said the TLB price has risen by 500 basis points (bps) since 2 January, which has cut the loan's yield by about 1.3%.
Over the same period the TLB has outperformed the European Leveraged Loan Index by roughly 400bps.