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Share Name Share Symbol Market Type Share ISIN Share Description
888 Holdings Plc LSE:888 London Ordinary Share GI000A0F6407 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.20 -1.25% 173.20 173.20 173.70 174.60 169.80 170.80 391,481 08:21:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 724.8 60.1 13.8 11.3 771

888 to Offer GBP1.02 Billion in Notes, Borrow Up to GBP909 Million to Fund William Hill Deal

23/06/2022 9:11am

Dow Jones News


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By Kyle Morris

 

888 Holdings PLC said Thursday that it intends to issue 1.02 billion pounds ($1.25 billion) in notes and borrow up to GBP909 million to fund its deal for the international business of William Hill.

The online betting and gaming company said it will market GBP1.02 billion in senior secured indebtedness, comprising a U.S. dollar-denominated term loan B facility maturing in 2028, a euro-denominated senior secured fixed rate note due 2027 and a euro-denominated senior secured floating rate note due 2028.

Furthermore, it will enter a GBP401 million euro-denominated term loan facility and a GBP358 million pound-denominated term loan facility, each maturing in 2028. It also expects to enter into a GBP150 million multicurrency revolving credit facility.

888 has agreed to buy William Hill's international business from Caesars Entertainment, Inc. for a revised GBP1.95 billion-GBP2.05 billion, from the original stated amount of GBP2.2 billion.

Shares in 888 at 0711 GMT were down 10.00 pence, or 5.7%, at 165.30 pence.

 

Write to Kyle Morris at kyle.morris@dowjones.com

 

(END) Dow Jones Newswires

June 23, 2022 03:56 ET (07:56 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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