Entain announced on Tuesday the price and divestment of two new tranches of First Lien Term Loan B, “the new loans
The price and the sale of the two new tranches of the First Lien Term Loan B, “the new loans” are:
1. EUR tranche of 800 million euros expiring June 2028 quoted in EURIBOR + 375 bp margin2 sdfad and assigned with an original issue discount of 97.5:
2. USD tranche of 375 million dollars (an addendum to $1 billion loan issued October 2022), due October 2029, rated at SOFR Term3 + credit adjustment margin of 10 basis points + margin of 350 basis points2 and assigned an original issue discount term of 98.75.
The New Loans will be financed in January 2023. The proceeds from the New Loans will be used to immediately repay the entire Term B Loan of €1,125 million maturing in March 2024.
The Group intends to enter into hedging arrangements in relation to the New Loans and details of these will be disclosed in due course.
When the New Loans have been funded and the March 2024 loan has been repaid, the Entain Loans will be as follows:
18+ | Juegoseguro.es – Jugarbien.es
