6th Dec 2022 10:28
Entain PLC - London-based gaming and sports-betting firm - Refinances EUR1.13 billion term loan B due March 2024. Announces pricing and allocation of two new tranches of first lien term loan B. Prices EUR800 million loan due June 2028 at Euribor plus 375 basis points at a discount of 97.5. Prices USD375 million loan due October 2029 at term secured overnight finance rate plus credit adjustment spread 10 bps plus margin of 350 bps. Says USD loan is allocated at an original issue discount of 98.75.
The Ladbrokes-owner says the new loans will fund in January. It will use the proceeds to immediately repay the EUR1.13 billion term loan B.
The company says it intends to enter into hedging arrangements, with details being disclosed in due course.
Current stock price: 1,360.50 pence, down 0.3% on Tuesday
12-month change: down 20%
By Tom Budszus, Alliance News reporter
Comments and questions to [email protected]
Copyright 2022 Alliance News Ltd. All Rights Reserved.
Related Shares:
Entain