{"id":401,"date":"2022-10-19T14:14:16","date_gmt":"2022-10-19T13:14:16","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=401"},"modified":"2022-10-19T14:14:17","modified_gmt":"2022-10-19T13:14:17","slug":"entain-initiated-1-billion-loan-to-accelerate-ma-closing%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2022\/10\/19\/entain-initiated-1-billion-loan-to-accelerate-ma-closing%ef%bf%bc\/","title":{"rendered":"Entain initiated $1 billion loan to accelerate M&A closing\ufffc"},"content":{"rendered":"\n

Entain Plc<\/strong> successfully appraised and distributed a new term loan. As part of the corporate financing measures announced in the first half of the year, a new term loan \u00abTerm Loan B (USD 1,000 million) maturing in October 2029\u00bb was made available.<\/p>\n\n\n\n

Entain said it has been cleared to increase the amount to $1 billion from the original $750 million due to strong demand from global lending investors. The deal was necessary to launch a joint venture in Central and Eastern Europe (CEE) with EMMA Capital<\/strong>, which was announced on 11 August.<\/p>\n\n\n\n

Further funding will allow the group to complete the acquisition of Dutch online gambling operator BetCity.nl<\/strong> with a new term loan. The deal is expected to close in the fourth quarter. <\/p>\n\n\n\n

The availability of this funding will eliminate the need for Entain to use the group’s existing revolving line of credit to complete the acquisition of BetCity.nl. Revenue is retained to maximize Entain’s liquidity and increase balance sheet flexibility.<\/p>\n\n\n\n

Entain\u2019s statement read: \u00abThe Group intends to enter into hedging arrangements (including cross-currency swaps to effectively convert the entire borrowing into EUR, and fixed\/floating interest rate swaps) which should result in an overall fixed cash cost of financing for the New Loan of approximately 6.2% until September 2024.\u00bb
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Entain Plc successfully appraised and distributed a new term loan. As part of the corporate financing measures announced in the first half of the year, a new term loan \u00abTerm Loan B (USD 1,000 million) maturing in October 2029\u00bb was made available. Entain said it has been cleared to increase the amount to $1 billion […]<\/p>\n","protected":false},"author":6,"featured_media":402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nEntain initiated $1 billion loan to accelerate M&A closing\ufffc - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2022\/10\/19\/entain-initiated-1-billion-loan-to-accelerate-ma-closing\ufffc\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entain initiated $1 billion loan to accelerate M&A closing\ufffc - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Entain Plc successfully appraised and distributed a new term loan. As part of the corporate financing measures announced in the first half of the year, a new term loan \u00abTerm Loan B (USD 1,000 million) maturing in October 2029\u00bb was made available. 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