GVC Holdings increases term loan portion of facility to €300 million

By Tali Rackner

Minneapolis, Dec. 7 – GVC Holdings plc increased the term loan element of its senior secured term and revolving facility by €50 million to €300 million, according to a filing with the London Stock Exchange.

The facility also includes a €70 million five-year revolving credit facility.

The additional €50 million will be used for potential bolt-on acquisitions and general corporate purposes.

Term loan interest was reduced to Euribor plus 275 basis points with a 0% Euribor floor.

In addition, the accordion facility, which allows the incurrence of incremental debt subject to a net leverage test, was increased to 3.5 times from 2.25 times.

There are no plans to draw on the revolver at this time, the filing said.

Nomura International plc and Deutsche Bank AG, London Branch acted as mandated lead arrangers.

GVC Holdings is an online gambling company based in Isle of Man.

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