11th Feb 2020 09:14
(Alliance News) - GVC Holdings PLC said Tuesday it has repriced its existing USD786 million first lien term loan B at US dollar Libor plus 225 basis points.
The gambling firm said the move represents a saving of 25 basis points.
GVC also said it is "simplifying" the debt structure by moving the borrowing to its wholly-owned subsidiary in Gibraltar, which is the existing borrower of the EUR1.13 billion first lien term loan B issued in September last year.
Chief Financial Officer Rob Wood said: "The repricing is another demonstration of the group's increasing standing in the international debt markets, and I would like to personally thank our lenders for their continued support."
Shares in GVC were 1.7% higher in London on Tuesday morning at 921.60 pence each.
By Paul McGowan; [email protected]
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