Entain has increased the size of a loan it received – classified as a First Lien Term Loan B – from $750m to $1.00bn to help fund two of its major recent acquisitions, thanks to strong investor demand.
Entain said that the loan was increased due to demand from global credit investors. The loan is set to reach maturity in October 2029.
The upsized loan will be used to finance Entain’s acquisition of Croatian market leader SuperSport, which it announced in August this year. As part of the deal, Entain acquired a 75% stake in SuperSport for €690m. This is expected to close in the fourth quarter of 2022.
