Entain Plc has unveiled plans to launch a bond offering that will place an equivalent of €800m [$924m] of corporate notes for the purpose of refinancing existing euro-denominated debt facilities.
The FTSE100 gambling group said the new issue will consist of fixed-rate senior secured notes, in euros and/or sterling, due in 2031 and carrying the same security rights as Entain’s existing Term Loan B facilities. Investors were informed that refinancing should have no increase in Entain existing debt levels of circa €3.9bn [$4.5bn].
The transaction will form part of its strategy to strengthen its balance sheet, as funds will help extend debt maturities, lower interest costs, and broaden financing sources to support a more stable long-term structure.
