REG - Entain PLC - Successful repricing and extension of Term Loans

EntainAnnouncement

Thu 07:01

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RNS Number : 3633T  Entain PLC  31 July 2025

For Release at 7.00 am

31 July 2025

 

Entain plc

("Entain" or the "Group")

 

Successful repricing and extension of Term Loans

Net debt neutral refinancing actions

 

Entain plc (LSE: ENT), the global sports betting and gaming group, announces
the successful repricing and extension of its Term Loans.

 

USD Term Loan B maturing March 2027 - repricing and extension

·      Successful repricing of the existing $1,100m(1) loan with the
margin reduced by 35bps to 225bps(2) over Term SOFR(4), which was allocated at
an original issue discount (OID) of 99.875

·      The maturity date has been extended from 29 March 2027 to 31 July
2032

 

USD Term Loan B maturing October 2029 - repricing

·    Successful repricing of the existing $2,218m(3) loan with the margin
reduced by 50bps to 225bps(2) over Term SOFR(4), which was allocated at par

·      The maturity date remains 31 October 2029

 

These refinancing actions are net debt neutral, extend the maturity profile of
the Group's debt and reduce our annual interest costs by approximately
£10million(5).

 

 

Enquiries:

 Investor Relations - Entain plc        investors@entaingroup.com (mailto:investors@entaingroup.com)

 Media -Entain plc                      media@entaingroup.com (mailto:media@entaingroup.com)

 Sodali & Co                            Tel: +44 (0) 20 7250 1446

                                      entain@sodali.com (mailto:entain@sodali.com)
 Rob Greening/Russ Lynch/Sam Austrums

Notes:

1 - The outstanding principal amount under this term loan as at 30 July 2025
is $1,080m. The new term loan of $1,100m includes additional $20m to cover
transaction fees, OID and for general corporate purposes

2 - 25bps reduction if Leverage, as defined in the Senior Facilities Agreement
dated 13 March 2025, is equal to or less than 2x

3 - The outstanding principal amount under this term loan as at 30 July 2025
is $2,218m

4- Secured Overnight Financing Rate (SOFR), subject to a 0% floor

5- Previous guidance for FY25 cash interest of approximately £240m provided
at FY24 results (6 March 2025)

 

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest
sports betting and gaming groups, operating both online and in the retail
sector. The Group owns a comprehensive portfolio of established brands; Sports
brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds,
Sportingbet, Sports Interaction, STS and SuperSport; Gaming brands include
Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group operates the TAB NZ brand as part of a long-term
strategic partnership with TAB New Zealand. The Group owns proprietary
technology across all its core product verticals and in addition to its B2C
operations, provides services to a number of third-party customers on a B2B
basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and
iGaming in the US. Entain provides the technology and capabilities which power
BetMGM as well as exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK and is the only
global operator to exclusively operate in domestically regulated or regulating
markets operating in over 30 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AAA rated by
MSCI. For more information see the Group's website: www.entaingroup.com
(http://www.entaingroup.com) .

 

LEI: 213800GNI3K45LQR8L28

 

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