Debt Allocation

Jennifer SpencerNews

12 September 2019

GVC Holdings PLC
(“GVC” or the “Group”)

Debt Allocation

GVC Holdings PLC (LSE:GVC), the global sports-betting and gaming Group, has today announced the pricing and allocation of a new €1,125m First Lien Term Loan B in EUR. In a net leverage neutral transaction, the loan refinances in full the existing outstanding £175m TLB(£), and consolidates the existing outstanding €300m TLB1(€) due March 2023 and €625m TLB2(€) due March 2024 into one bigger and more liquid tranche maturing in March 2024 under GVC's wholly owned subsidiary GVC Holdings (Gibraltar) Limited.

The new EUR Term Loan B’s pricing is E +2501 (0% floor) and it was allocated at par, which represents a saving of 25bps vs the existing EUR facilities and 175bps on the refinanced £175m TLB(£). The EUR refinancing of the £175m TLB(£) delivers the required currency mix of debt for the Group following the implementation of the Triennial Review in April 2019.


1 Subject to margin ratchet


GVC Holdings PLC
Kenneth Alexander, Chief Executive Officer
Rob Wood, Chief Financial Officer
Paul Tymms, Director of Investor Relations & Corporate Communications

Media enquiries:
Buchanan Communications
David Rydell / Jamie Hooper
Tel: +44 (0) 20 7466 5066

About GVC
GVC Holdings PLC is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Games Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGM Resorts to capitalise on the sports-betting and gaming opportunity in the US. The Group, incorporated in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 20 countries, across five continents.

For more information see the Group's website: