Entain Plc (GMVHY,ENT.L), a British sports betting and gaming company, Monday, announced the launch of a bond offering totalling at least 800 million euros. The offering will consist of a combination of euro- and/or sterling-denominated fixed-rate senior secured notes due in 2031, the company added.
According to the company, these notes are expected to be guaranteed and secured on a pari passu basis with the group's existing Term Loan B credit facilities.
Entain Plc said that once the bond offering is completed, the net proceeds from it are going to be used to repay outstanding amounts under the Group's existing euro-denominated Term Loan B credit facilities.
The company said that the final terms of the Notes, including principal amount, currency mix, interest rate, and issue price, will be determined at the time of pricing, subject to existing market conditions.
On the LSE, ENT.L is up 2 percent on Monday's trading at 745.45 pence.
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