12th Oct 2022 09:20
Playtech PLC - Isle of Man-based gambling software - Enters amended EUR277 million revolving credit facility until October 2025, with a further on-year extension option. The company has been reviewing its EUR530 million senior secured notes and its revolving credit facility, both of which mature in the fourth quarter of 2023. Also plans to redeem EUR330 million of the EUR350 million senior secured notes on November 16. Says this will be funded using current cash balance, with the amended revolving credit facility to remain undrawn. Expects this will result in cash interest savings of around EUR12 million in 2023. Adds that the remaining balance will be repaid at maturity, or sooner, taking annualised savings to EUR20 million. Read More
