Treasury
Playtech Prices EUR350 Million Senior Secured Notes to Refinance Bonds Due 2028
Playtech (PTEC.L) priced a 350 million-euro senior secured bond offering as the gambling software company moves to refinance its existing debt.The net proceeds from the notes, which carry a 5.5% interest rate and will mature in 2031, will be used to redeem its outstanding 300 million euros of 5.875% senior secured notes due 2028, cover the redemption premium, accrued interest, and transaction costs, with the remaining balance to be used for general corporate purposes, according to a Tuesday filing.Playtech plans to repay the existing bonds on Oct. 15, subject to completion of the new bond issuance and receipt of the proceeds. The new notes are expected to settle on Sept. 22.
$PTEC.L
