Puma strengthens its liquidity with significant new financing as the market continues to speculate about its immediate and strategic corporate future.
German sportswear group Puma has completed a key financial operation at a decisive moment for its future. The company has secured more than €600 million in new financing, reinforcing its liquidity while continuing its internal transformation process and as market speculation around a potential sale remains alive.
According to the company, Puma has obtained a €500 million bridge loan, alongside additional credit lines worth €108 million, designed to refinance the current utilisation of its €1.2 billion revolving credit facility. The objective is clear: to gain short- and medium-term financial flexibility in a challenging environment for the brand.
The bridge loan has been structured by Santander Corporate & Investment Banking, and both the loan and the new credit lines will have a maximum maturity of two years. The company emphasised that these tools will allow it to move forward with greater room to define its long-term financing structure.
“This transaction adds an additional layer of financial flexibility as we work on consolidating our future financing model,” said Markus Neubrand, Chief Financial Officer of Puma SE, who also highlighted that the backing of banking institutions reinforces confidence in the company’s strategy and business model. The stated ambition remains unchanged: to position Puma among the top three sportswear brands in the world.
The move comes at a sensitive time for the company. In the third quarter, Puma reported a 10.4% drop in sales, bringing revenue to €1.96 billion, while EBIT — both adjusted and reported — fell by more than 80%. The arrival of its new Chief Executive Officer, Arthur Hoeld, has marked the beginning of a strategic reset aimed at addressing structural challenges such as weak brand momentum, elevated inventory levels and what has been described as lower-quality distribution.
At the same time, speculation around a possible sale has continued to intensify in recent months. In September, Puma shares rose on rumours of potential interest from Adidas, followed shortly by mentions of Authentic Brands Group and private equity firm CVC. In November, further reports pointed to possible interest from Anta Sports, while Li Ning and Asics were also named before later denying any negotiations.
Despite the strengthened financial position, the market remains cautious. Puma SE shares fell 3% in the latest trading session, partly dragged down by a weak outlook for the sportswear sector, influenced by downbeat forecasts from Nike.
With reinforced financing, new leadership and sustained market pressure, Puma now faces one of the most defining moments in its recent history. The outcome — whether as an independent player or as part of a broader corporate transaction — will shape the next chapter of one of the most recognisable names in global sportswear.
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