Long-term refinancing

RNS Number : 6283Y

GVC Holdings PLC

07 December 2017

 

7 December 2017

GVC Holdings PLC

 ("GVC" or the "Company" or the "Group")

Long-term refinancing

GVC Holdings PLC (LSE:GVC), the multinational sports betting and gaming group, are pleased to announce a €50m increase in the term loan element of its Senior Secured Term and Revolving Facility ("the Facility"), originally signed in March 2017.   The Facility now comprises a €300m term loan (the "Term Loan") and a €70m revolving credit facility ("RCF")

The additional €50m raised will be used for potential bolt-on acquisitions and general corporate purposes.  There are no plans to draw on the RCF at this time.

Some additional enhancements to the documentation have been incorporated:  the interest rate on the Term Loan has been reduced by 50bp to 275bp above Euribor with a 0% floor and the accordion facility, which allows the incurrence of incremental debt subject to a net leverage test, has been increased from 2.25 to 3.5x.

Nomura International plc and Deutsche Bank AG - London Branch acted as mandated lead arrangers.

Paul Miles, Chief Financial Officer commented:

"The amended financing represents a logical development in the enhancement of our lending facilities and reflects our increasing standing in the international debt markets."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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LEI: 213800GNI3K45LQR8L28

For further information:

GVC Holdings PLC
Kenneth Alexander, Chief Executive Paul Miles, Chief Financial Officer Nick Batram, Head of Investor Relations & Corporate Strategy	Tel: [phone] Tel: [phone] Tel: [phone]

Media enquiries:

Buchannan Communications
David Rydell	Tel: [phone]

About GVC Holdings PLC

GVC Holdings PLC is a leading e-gaming operator in both B2C and B2B markets.  GVC has four business segments with a number of brands; Sports Brands (bwin, Sportingbet, Gamebookers), Games Brands (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets.  GVC acquired bwin.party digital entertainment plc on 1 February 2016.  The Group is headquartered in the Isle of Man, is a constituent of the FTSE 250 index and has licences in more than 18 countries.

For more information see the Group's website: www.gvc-plc.com 

 

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