Flutter Entertainment Plc has notified markets that it has launched an offering of senior debt notes equivalent to an aggregate principal amount of $1.05bn.
The twin-listed NYSE and FTSE gambling group has authorised the transaction for both USD- and EUR-denominated senior secured notes due by 2029.
Markets were informed that proceeds from the debt notes issuance will be used to “(i) repay borrowings under the existing syndicated facility agreement from July 10, 2018, (ii) repay borrowings under the existing multi-currency revolving credit facility, and (iii) cover certain costs, fees, and expenses associated with the offering.”
The transaction will be issued by the plc subsidiary ‘Flutter Treasury DAC‘, and an application will proceed for the senior debt notes to be admitted for trading on The International Stock Exchange Authority.
