The Stars Group has increased its debt-note offering from $750m to $1bn.
The Toronto-based company intends to use the offering for its p$4.7bn acquisition of Sky Betting & Gaming (Sky Bet). The notes will be offered and sold in the US only to qualified institutional buyers.
The Stars Group confirmed that the increase in its senior loan will not affect the conditions of the debt-note which will maintain a rate of 7% per annum and is set to mature on July 15, 2026.
The company plans to maintain it’s debt-offering to private institutional investors until 10 July, when the offering is expected to close.
The Stars Group operates business brands such as PokerStars, PokerStars Casino, BetStars, Full Tilt, and the PokerStars Players No Limit Hold'em Championship.