London-listed betting and gaming operator GVC Holdings has announced a €320m long-term refinancing deal, including a €250m term loan which represents the company's first entry into the syndicated debt market.

The refinancing comprises an oversubscribed €250m syndicated term loan, and a €70m revolving credit facility (RCF).

The six-year term loan will initially be used to repay the company's existing €250m loan with Nomura International, which in turn was used in part to repay the €400m loan provided by Cerberus Business Finance associated with the acquisition of bwin.party.

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