Flutter Entertainment has announced the pricing of its new offering of senior secured notes due 2031. The offering consists of $1,000 million aggregate principal amount of USD-denominated 5.875% senior secured notes, €550 million aggregate principal amount of EUR-denominated 4.000% senior secured notes, and £450 million aggregate principal amount of GBP-denominated 6.125% senior secured notes. The company plans to utilize the proceeds from this offering, along with a new U.S. dollar-denominated term loan B facility, to repay all amounts due under the bridge facility, for general corporate purposes, and to pay certain costs, fees, and expenses in connection with the foregoing transactions.
Flutter Entertainment operates as the world’s leading online sports betting and iGaming operator, with a market-leading position in the US 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.
The company's ambition is to leverage its significant scale and challenger mindset to bring positive, sustainable change to the industry for the better. Flutter believes it can deliver long-term growth while promoting a positive, sustainable future for all its stakeholders through its distinctive, global competitive advantages.
The offering of the notes is subject to customary closing conditions, and settlement is expected to occur on or around June 4, 2025. The notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933. The notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons. If any public offering of the notes is made in the United States, it will be by means of a prospectus that may be obtained from the issuer.
This press release has been prepared on the basis that any offer of the notes in any member state of the European Economic Area will be made pursuant to an exemption under Regulation (EU) 2017/1129, as amended, from the requirement to publish a prospectus for offers of notes. It also states that the notes are not intended to be offered, sold, or otherwise made available to any retail investor in the EEA.
The company also emphasized that the press release does not constitute an offer of securities to the public in the United Kingdom and that the notes described in the preliminary offering memorandum are not being offered to the public in the United Kingdom. Today the company's shares have moved 2.16% to a price of $243.3159. Check out the company's full 8-K submission here.
