€2.15bn syndicated credit facility announced by Allwyn
The lottery organisation has entered into a new Senior Facilities Agreement with a multi-national group of investors.
Key points:
– Allwyn has announced a new €2.15bn syndicated credit facility
– This credit facility is comprised of multiple types of loans from several international banks
– The cash injection is set to help Allwyn pay off a previous credit facility, alongside aiding its growth plans
Lottery provider Allwyn has revealed a new €2.15bn ($2.51bn) syndicated credit facility, with several international banks set to provide this latest financing in support of the company’s growth plans.
This latest action also comes alongside the refinancing of an existing syndicated credit facility to the tune of €1.7bn – €1.2bn of which has already been drawn. Indeed, this latest €2.15bn credit injection is comprised of €900m in bullet term loans, €500m in delayed drawdown term loans, €400m in amortising term loans and a €350m multi-currency revolving credit facility – and will be utlised to pay off the remainder of the provider’s first €1.7bn loan, alongside supporting its growth initiatives.
In more detail, a bullet term loan is a type of loan which must be paid back – sometimes with interest – at the end of the loan term, which in this case is five-and-a-half years. This type of loan represents the largest chunk of Allwyn’s newly announced financing (€900m).
Commenting on this latest news, Allwyn CFO Kenneth Morton, said: “I’m delighted with the level of interest that the transaction received, with the majority of existing banks upsizing their commitments and a further increase in the number of banks in our banking group. This syndication reflects the strength of our credit and confidence in our strategy.
“Our broad and diversified access to capital markets continues to allow us to achieve highly attractive pricing and terms across instruments and currencies. Following the successful repricing of our USD Term Loan B and debut EUR Term Loan B issuance earlier this year, this transaction is another step forward in our proactive management of our capital structure, reducing our interest costs and further extending our maturity profile.”
Good to know: Allwyn’s Q1 2025 report highlighted a total company pro rata Net Debt of €3.8bn
Following on from this, it has been an eventful second quarter for Allwyn, who gained official certification from the European Lotteries and World Lottery Association in early April. Later that month, the provider’s North American arm also went on to launch its e-instant games in the District of DC.
More recently, however, Allwyn fell under legal scrutiny – with the UK’s Gambling Commission launching an investigation into the company pertaining to its recent takeover of the UK Lottery licence.
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