World Group Betting and Sports Games Login Plc Announced that successfully priced and allocated First term loan B In US dollars in the amount $ 1.125 billion And matured by date March 29, 2027.
New USD loan
Enter Explained the new borrowers, who got the right price LIBOR + 250bps Due to the very strong global demand for credit investments and in 99.75, Subsidiaries will be wholly owned by it Entain resources (Gibraltar) Limited And GVC Finance LLC.
According to the allocation conditions, London Interbank Rate (LIBOR) Will be subject to a 0.5 ٪ Floor, while the premium is adjusted with +/- 25 bits per second Depending on the lever in which it is defined Senior Facilities Agreement Bigger than being 3 times From less than 2 times.
The new loan is supposed to generate income from financial repayment or repayment Etain’s The first term loan of assets in B US dollars, in the amount of $ 774 million And matured by date March 29, 2024. Furthermore , $ 351 million New loan income will be available to the company in late July when it expects the transaction to close and be allocated to support the development of companies in the group as well. question and answer.
New loan EUR
Return existing Etain $ 774 million First Lien Term Loan B was announced earlier that month when the group released new information 5 years old Revolving Credit Facility (RCF) with lenders in this group to the extent 90 590 million ($ 818 million), Which replaces the existing company 35 535 million ($ 742 million) RCF due to expiration on March 2023. Until then, Enter It also announced the initial price and the first B loan for it € 300 million ($ 356 million).
Shortly afterwards, Entain issued a first-half trading update to increase Earnings before interest, taxes, depreciation and amortization (EBITDA) Expectations from FY2021 to 50 850 million ($ 1.179 billion) to the میلیون 900 million ($ 1.248 billion) Range, provided with a strategic and operational update set by the company at an investor event 12 August 2021.
At the end of June, there were speculations that Entain was preparing to offer its competitors for the business and media games of the Australian gaming group Tabcorp with more than A $ 4 billion ($ 3.08 billion), But after failing to persuade Tabcorp to sell, the group may focus on its domestic market.
Despite not officially announcing his interest in William Hill’s non-US assets, there were speculations that the main candidate to buy William Hill betting in the UK was around $ 2 billion It was entertained by Caesars Enter.
Entain is likely to face stiff competition from the initial candidate for William Hill. Apollo Global Management, As well as UK competitors, Flutter Entertainment And Bet.