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On July 31, 2025, Entain plc announced the successful repricing and extension of its Term Loans. A $1,100 million USD Term Loan B had its margin reduced by 35bps to 225bps over Term SOFR and its maturity extended from March 29, 2027, to July 31, 2032. Additionally, a $2,218 million USD Term Loan B had its margin reduced by 50bps to 225bps, with its maturity remaining October 31, 2029; these actions are net debt neutral and reduce annual interest costs by approximately £10 million.
| Date | 31 Jul 2025 |
| Time | 07:00:16 |
| Category | Miscellaneous |
| ID | 3633T |
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 $1,100m1 loan with the margin reduced by 35bps to 225bps2 over Term SOFR4, 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 $2,218m3 loan with the margin reduced by 50bps to 225bps2 over Term SOFR4, 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 £10million5.
Enquiries:
|
Investor Relations - Entain plc Media -Entain plc Sodali & Co Rob Greening/Russ Lynch/Sam Austrums |
Tel: +44 (0) 20 7250 1446
|
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.
LEI: 213800GNI3K45LQR8L28