Entains board has secured a first lien term loan, valued at $1.12bn, to refinance the companys long-term corporate debt holdings.
The FTSE100 gambling group will use the proceeds of its new loan to refinance its outstanding loan debt, which currently stands at $774m and was due to mature from 29 March 2024.
The transaction sees Entain expand its loan-term maturity rates to 29 March 2027, priced at the London Interbank Offered Rate plus 250 basis points, or 2.5 per cent.
The loans outstanding $350m will be made available to Entain for the purpose of accelerating the firms corporate development, including mergers and acquisition activities.
Duties carried by the loan will be maintained by the subsidiaries of Entain Holdings Gibralta…
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