logo
  

Entain Plc Announces Refinancing Of EUR 1,125 Mln Term Loan B Due March 2024

Sports-betting company Entain plc (ENT.L), on Tuesday, announced the pricing and allocation of two new tranches of First Lien Term Loan B.

The new loans include EUR tranche of €800 million, with maturity in June 2028, priced at EURIBOR + margin of 375 bps and allocated at an original issue discount of 97.5. Also included was USD tranche of $375 million (an add-on to the $1,000 million loan issued in October 2022), with maturity in October 2029, priced at Term SOFR + credit adjustment spread of 10 bps + margin of 350 bps and allocated at an original issue discount of 98.75.

The New Loans would fund in January 2023. The company has planned to use the proceeds of the New Loans to immediately repay the entire €1,125 million Term Loan B due March 2024.

Further, the company has intended to enter into hedging arrangements in respect of the New Loans and details of these would be disclosed in due course.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC announced recall of thousands of children's Robes made in China and sold exclusively on Amazon.com by various companies. The recalled robes fail to meet the federal flammability standards for children's sleepwear, posing a risk of burn injuries to children. Further, citing the same concerns, Paper Cape children's pajamas manufactured in Peru ... Health services company Cigna Corp. reported Friday higher profit in its fourth quarter reflecting growth in both Evernorth and Cigna Healthcare segments. Adjusted earnings and topline beat market estimates. Looking ahead for fiscal 2023, the company projects adjusted earnings and adjusted revenues to be higher than last year, but below market view. French drug major Sanofi SA reported Friday higher profit in its fourth quarter with strong revenue growth mainly with strong sales of Dupixent. Looking ahead for fiscal 2023, the company projects higher business earnings, but the expected growth is slower than recorded in fiscal 2022. Sanofi shares were losing around 4 percent in the morning trading in Paris as well as in pre-market activity...
Follow RTT