Flutter Entertainment plc (FLUT, FLTR.L), an online sports betting and gaming company, on Wednesday announced that its subsidiary Flutter Treasury DAC is issuing an offering of USD, GBP, and EUR-denominated senior secured notes due 2031.
Flutter plans to raise $2.8 billion through a combination of Notes and its recently announced Third Incremental Term Loan B Facility.
The funds will be used to fully repay the bridge facility, partly used for the Snaitech S.p.A. acquisition, and to cover related costs and expenses.
On May 19, Flutter initiated a process to raise additional funds through its existing USD-denominated Term Loan B, referred to as the Third Incremental TLB Facility.
The company noted that Flutter Treasury will make an application for the senior secured notes to be admitted to trading on The International Stock Exchange.
In the pre-market trading on the New York Stock Exchange, Flutter is 1.33% lesser at $243.61.
In London, Flutter is currently trading at 18,210 pence, down 1.27%.
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