Playtech agrees amended credit facility

12th Oct 2022 07:52

(Sharecast News) - Gambling software maker Playtech said it had agreed an amended €277m revolving credit facility until October 2025, with a further one-year extension option.

The company added that it was serving notice to redeem at par €330m of the €530m senior secured notes due to mature in October 2023, with the redemption to take place on November 16.

"This will result in cash interest savings of approximately €12m in 2023. The balance of the outstanding bond will be repaid at maturity, or sooner, taking the total annualised savings to €20m," Playtech said.

Following the early redemption, Playtech will have more than €200m of available cash on its balance sheet.

Reporting by Frank Prenesti for Sharecast.com