NewDay BondCo plc 3 March 2025
NewDay BondCo plc (the “Company”)
Acquisition of Argos Financial Services Store Card portfolio
On 31 October 2024, the Company announced that the NewDay group had reached an agreement with Home Retail Group Card Services Ltd (“AFS”) to acquire the existing Argos-branded store card portfolio (the “AFS Portfolio”). The AFS Portfolio comprises approximately two million customers and £850m receivables.
The Company is pleased to announce that, having successfully obtained appropriate financing and antitrust approvals, the NewDay group acquired beneficial title to the AFS Portfolio at 11.59pm on 28 February 2025. The NewDay group will acquire legal title to, and take responsibility for servicing, the AFS Portfolio at migration which is expected to occur in Q1 2026.
Customers with an Argos-branded store card do not need to take any action as a result of this announcement. There will be no immediate changes to AFS customers’ existing terms and conditions.
NEWDAY BONDCO PLC
For further information, please contact:
E-mail: investor.relations@newday.co.uk
Contact: Anthony Godsiff
Date: 3 March 2025
For media enquiries, please contact:
E-mail: newday@sodali.com