Issuing a corporate update, Toronto TSX-listed the Stars Group Inchas informed that it will add a further $250 million to
its proposed private unsecured senior note/loan offering.
its proposed private unsecured senior note/loan offering.
Seeking to complete its $4.7 billion acquisition of Sky Betting & Gaming (Sky Bet), the Stars Group governance will move to expand its senior debt-financed loan to $1 billion (transaction first announced 25 June 2018).
The Stars Group details that the increase in its senior loan capacity to $1 billion, will not change the terms of the debt-note transaction which will maintain a 7% per annum maturity rate triggered on 15 July 2026.
The TSX enterprise maintains its debt-offering to private institutional investors until 10 July 2018, when its expects to close the transaction.
A busy month of corporate refinancing, has seen the Stars Group complete a successful + $600 million share placement, raising capital for its pending takeover of Sky Bet assets.
Undertaking a series of M&A transactions in 2018 (Sky Bet, CrownBet and William Hill Australia), the Stars Group governance has moved to expand the firm’s debt capacity to $5.1 billion.
By: Ted Menmuir (SBC News).
Photo: The News of Gambling.
Review: Emerging Market Formulations & Research Unit, Flagship Records.