Gaming giant Playtech has announced it has priced €350m in loan notes in order to pay off existing debts.
The 4.25 per cent senior secured notes, due in 2026, will be used to redeem on maturity all of the then-outstanding €297m in senior convertible bonds due in November 2019.
The remainder of the money will be used for general corporate purposes, the company stated this morning.
Following the issue of the new notes and the redemption of the convertible bonds, the group’s material only outstanding borrowings in addition to the new notes is the €530m (3.75 per cent) senior secured notes due in 2023. Playtech also maintains a €272m revolving credit facility which is currently undrawn.
