Business
Pricing of Senior Secured Notes
Pricing of Senior Secured Notes.
About this update from Evoke Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n 8 December 2022\n \n \n \n \n \n \n \n \n \n 888 Holdings Plc\n \n \n \n \n (\"888\", \"the Group\" or \"the Company\")\n \n \n \n \n \n \n \n Pricing of Senior Secured Notes and Upsizing of Existing TLB\n \n \n \n \n \n \n \n \n 888 (LSE: 888), one of the world's leading betting and gaming companies with internationally renowned brands including 888, William Hill, Mr Green and SI Sportsbook, today announces\n the upsizing and\n pricing of a Notes offering\n , together with the upsizing of its existing Term Loan B (\"TLB\").\n \n \n \n \n \n \n Pricing of Notes\n \n \n \n \n \n \n The Company, through 888 Acquisitions Limited (the \"Issuer\") a wholly-owned subsidiary of the Company, has priced €182,000,000 aggregate principal amount of senior secured fixed rate notes due 2027 and €150,000,000 aggregate principal amount of senior secured floating rate notes due 2028 (together, the \"Notes\"). The Notes are being offered as additional notes under the indenture dated as of 19 July 2022 pursuant to which the Issuer issued €400,000,000 Senior Secured Fixed Rate Notes due 2027 and €300,000,000 Senior Secured Floating Rate Notes due 2028.\n \n \n \n \n \n The offering of the Notes (the \"Offering\") will be an offering exempt from the registration requirements of the U.S. Securities Act of 1933, as amended (the \"Securities Act\"). The Notes are expected to be issued on 14 December 2022 (the \"Issue Date\"), subject to customary closing conditions.\n \n \n \n \n \n \n Upsizing of existing TLB\n \n \n \n \n \n \n Alongside the upsized Offering, the Company has separately announced today that $75 million in US Dollar denominated term loan(s) is expected to be made available as an incremental upsize of the USD-denominated term loan B facility originally made available to 888 Acquisitions Limited and 888 Acquisitions LLC pursuant to a senior facilities agreement dated 29 June 2022 (as amended and restated on 19 July 2022) (the \"Senior Facilities Agreement\"). The TLB upsize will maintain the existing pricing and security as the original TLB.\n \n \n \n \n \n \n Use of Proceeds and Impact on Group Financing\n \n \n \n \n \n \n The Company expects to use the gross proceeds of the Offering and the TLB upsize to repay in full and perma...