888 Holdings to repay term loan A facility with new notes

By Mary-Katherine Stinson

Lexington, Ky., Dec. 5 – 888 Holdings plc intends to use the proceeds from its wholly owned subsidiary 888 Acquisitions Ltd.’s new offering of euro-denominated senior secured fixed-rate notes due 2027 and euro-denominated senior secured floating-rate notes due 2028 to pay off and cancel the same amount of debt under its sterling-denominated term loan A facility, according to a notice.

The facility was made available to 888 pursuant to a senior facilities agreement dated June 29.

The company stated it will transact appropriate hedging arrangements, and the overall exercise is not expected to materially impact the company's overall cost of debt, cash interest costs or leverage ratio.

888 is an online betting and gaming company based in Gibraltar.

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