GVC Holdings PLC (LSE:GVC), the multinational sports betting and gaming group, has today announced the launch of general syndication for the debt financing package supporting its intended Acquisition of Ladbrokes Coral (LSE:LCL).
The financing consists of £1,400 million equivalent First Lien Term Loan B (comprising £, € and US$ tranches) and a £550 million multi-currency revolving credit facility.
Proceeds from the financing will be used to satisfy the cash consideration payable to Ladbrokes Coral Shareholders, to refinance certain existing indebtedness of the Ladbrokes Coral Group, to pay certain costs and expenses and, in the case of the multicurrency revolving credit facility, for general corporate purposes.
For further information:
|GVC Holdings PLC|
|Kenneth Alexander, Chief Executive||Tel: +44 (0) 1624 652 559|
|Paul Miles, Chief Financial Officer||Tel: +44 (0) 20 3938 0079|
|Nick Batram, Head of Investor Relations & Corporate Strategy||Tel: +44 (0) 20 3938 0066|
|David Rydell||Tel: +44 (0) 20 7466 5066|
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both B2C and B2B markets. GVC has four business segments with a number of brands; Sports Brands (bwin, Sportingbet, Gamebookers), Games Brands (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets. GVC acquired bwin.party digital entertainment plc on 1 February 2016. The Group is headquartered in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 18 countries.
For more information see the Group’s website: www.gvc-plc.com