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Playtech (LON: PTEC) announced Wednesday that it has entered into a revised 277 million revolving credit facility until October 2025. In addition, I received a one-year extension option.
The amendment comes at a time when the gaming software provider is considering refinancing options for its 530 million senior secured bond and revolving credit facility. Both are originally scheduled to mature in the fourth quarter of 2023.
In addition, the company has given notice to redeem a 330 million senior secured bond on November 16, 2022, which is expected to mature in October 2023. Use your current cash balance to raise funds.
After the early redemption, the company’s cash balance exceeds EUR 200 million. The company’s balance sheet only includes his 350 million senior secured debt obligations maturing in 2026.
Playtech says the refinancing will save the company about 12 million in interest in cash in 2023. Total annual savings he reaches 20 million euros.
Playtech’s Chief Financial Officer, Andrew Smith, said, “The combination of Playtech’s strong balance sheet and high cash generation from its operations has enabled us to achieve this efficient refinancing despite challenging debt market conditions. was able to
We are pleased that we were able to achieve this result, and we are pleased that we were able to realize significant interest savings that could otherwise have been incurred.
Playtech’s revenue in the first half of 2022 reached 792.3 million, up 73% year-on-year. Its performance was primarily driven by the regulated B2B marketplace and Snaitech. Additionally, the company’s EBITDA rose by 64% to reach 203.8 million.
Additionally, the London-listed company sold its treasury arm, Finalto, to Gopher Investments in a $250 million cash transaction. However, the Playtech acquisition fell through. Initially, shareholders rejected his 2.7bn takeover offer for Aristocrat Leisure, but TTB Partners later withdrew their interest, citing market conditions.
Playtech (LON: PTEC) announced Wednesday that it has entered into a revised 277 million revolving credit facility until October 2025. In addition, I received a one-year extension option.
The amendment comes at a time when the gaming software provider is considering refinancing options for its 530 million senior secured bond and revolving credit facility. Both are originally scheduled to mature in the fourth quarter of 2023.
In addition, the company has given notice to redeem a 330 million senior secured bond on November 16, 2022, which is expected to mature in October 2023. Use your current cash balance to raise funds.
After the early redemption, the company’s cash balance exceeds EUR 200 million. The company’s balance sheet only includes his 350 million senior secured debt obligations maturing in 2026.
Playtech says the refinancing will save the company about 12 million in interest in cash in 2023. Total annual savings he reaches 20 million euros.
Playtech’s Chief Financial Officer, Andrew Smith, said, “The combination of Playtech’s strong balance sheet and high cash generation from its operations has enabled us to achieve this efficient refinancing despite challenging debt market conditions. was able to
We are pleased that we were able to achieve this result, and we are pleased that we were able to realize significant interest savings that could otherwise have been incurred.
Playtech’s revenue in the first half of 2022 reached 792.3 million, up 73% year-on-year. Its performance was primarily driven by the regulated B2B marketplace and Snaitech. Additionally, the company’s EBITDA rose by 64% to reach 203.8 million.
Additionally, the London-listed company sold its treasury arm, Finalto, to Gopher Investments in a $250 million cash transaction. However, the Playtech acquisition fell through. Initially, shareholders rejected his 2.7bn takeover offer for Aristocrat Leisure, but TTB Partners later withdrew their interest, citing market conditions.
