Cains’ Banking and Finance team has acted for Natwest Markets, Citigroup, Santander Corporate and Investment Banking and UnitCredit as Joint Bookrunners in connection with the issuance by Playtech plc of €300 million 5.875% senior secured notes due in 2028.
The new notes have been admitted to the Official List of Euronext Dublin and to trade on the Global Exchange Market with issue ratings of BB by S&P Global Ratings UK Ltd and Ba2 by Moody’s Investors Service Ltd.
All of the company’s outstanding €200 million 3.75 percent senior secured notes due in 2023 will be redeemed using the proceeds of the new notes. They will also be used to settle outstanding debt under the company’s revolving credit facility and for other corporate purposes.
Playtech plc, which is an Isle of Man company, is the world’s largest supplier of online gaming software and a member of the FTSE 250. It is traded on the London Stock Exchange Main Market.