debt
confidence high
sentiment neutral
materiality 0.65
Flutter issues $1.0B USD, €550M, £450M notes; adds $750M term loan to refinance Snaitech bridge
Flutter Entertainment plc
- Issued $1.0B 5.875% USD notes, €550M 4.000% notes, £450M 6.125% notes, all at par with semi-annual interest.
- Increased Term B loans by $750M; maturity June 4, 2032, interest at SOFR+2.00% or ABR+1.00%.
- Proceeds used to repay bridge credit agreement that funded Snaitech S.p.A. acquisition plus general corporate purposes.
- Notes are senior secured obligations guaranteed by Flutter and other guarantors; issued under existing indenture.
- Third Incremental Term B Loans require quarterly amortization of 0.25% of principal, balance at maturity.
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