This Tuesday Entain announced the pricing and allocation of two new tranches of First Lien Term Loan, "the New Loans"
The two new tranches of First Lien Term Loan B, "the New Loans" are:
1. EUR tranche of
€800m, with maturity in June 2028, priced at EURIBOR + margin of 375 bps
2 and allocated at an original issue discount of 97.5;
2. USD tranche of
$375m (an add-on to the $1,000m loan issued in October 2022), with maturity in October 2029, priced at Term SOFR
3 + credit adjustment spread of 10 bps + margin of 350 bps
2 and allocated at an original issue discount of 98.75.
The New Loans will fund in January 2023. The proceeds of the New Loans will be used to immediately repay the entire €1,125m Term Loan B due March 2024.
The Group intends to enter into hedging arrangements in respect of 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 repaid, Entain's borrowings will be as follows:
18+ | Juegoseguro.es – Jugarbien.es
