10th Oct 2018 17:58
LONDON (Alliance News) - Playtech PLC on Wednesday said it has published the circular for its EUR530 million 3.75% senior secured notes due 2023.
The notes are to bear interest from Friday, which will be paid semi-annually in April and October. They mature in 2023 but may be redeemed from 2020.
Playtech, an online gaming and sports betting company, will use the notes to pay its bridge facility, which was used to acquire Snaitech SpA, to fund the redemption of bonds issued by SNailtech, and to cover related expenses.
Once the notes are issued, Playtech's only remaining borrowinjgs will be the EUR297 million convertible bonds due 2019. The company also has an undrawn credit facility of EUR250 million.
Shares in Playtech closed up 0.9% at 455.10 pence on Wednesday.
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