Flutter Entertainment plc has announced the launch of an offering of senior secured notes due 2031, as well as the launch of a process to raise incremental debt under its existing U.S. dollar-denominated term loan B facility. The company intends to raise a total of $2,800 million from the notes and the third incremental Tlb facility.
The proceeds from these offerings are expected to be utilized to repay all amounts due under a bridge facility, which was used in part to fund the acquisition of Snaitech S.p.A, and to pay certain costs, fees, and expenses related to these transactions.
Flutter Entertainment plc is a leading online sports betting and iGaming operator with a market-leading position in the U.S. and across the world. The company operates a diverse portfolio of leading online sports betting and iGaming brands, including Fanduel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Snai, Tombola, Betfair, Maxbet, Junglee Games, Adjarabet, and Betnacional.
In its latest financial move, Flutter Entertainment plc is aiming to leverage its significant scale and challenger mindset to drive long-term growth, while promoting a positive and sustainable future for all its stakeholders. This development comes as the company continues to pursue its vision for sustainability through its positive impact plan. The market has reacted to these announcements by moving the company's shares -1.89% to a price of $242.215. If you want to know more, read the company's complete 8-K report here.
