Boulogne-Billancourt (France), November 12, 2024 – La Française des Jeux (FDJ), one of Europe’s leading betting and gaming operators, has announced the launch of its first bond issue, totaling €1.5 billion, in three tranches with maturities of 6, 9, and 12 years. Subject to market conditions, FDJ will meet with investors over the coming days to discuss the issuance.
On November 7, Moody’s assigned FDJ a long-term credit rating of Baa1 with a stable outlook, supporting this inaugural bond issuance. The funds raised will be used to refinance most of a €2 billion bridging loan, drawn on October 7 to finance the acquisition of Kindred shares for nearly €2.5 billion. The bonds will be listed on the Euronext regulated market in Paris.
Additionally, FDJ is finalizing a €400 million syndicated loan with top-tier French and international banks, which will be repaid over five years. This financing will also help settle the bridging loan, together with FDJ’s available cash.
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