Lottery giant Allwyn has announced a new €2.15 billion ($2.51 billion) syndicated credit facility provided by a consortium of international banks.
This major financing initiative is intended to refinance existing debt and support the company’s ambitious growth strategies.
The new credit line will be used to pay off the remainder of a previous €1.7 billion loan and to fund further expansion.
The facility is structured with several components, including €900 million in bullet term loans, €500 million in delayed drawdown term loans, a €400 million amortising term loan, and a €350 million multi-currency revolving credit facility.
The bullet term loans, which require full repayment at the end of the five-and-a-half-year term, represent the largest portion of the financing.
Kenneth Morton, Allwyn’s CFO, stated that the strong interest from both existing and new banking partners reflects the market’s confidence in the company’s financial strength and strategic direction.
He noted that this transaction helps manage the company’s capital structure proactively, reducing interest costs and extending its debt maturity profile.
This financial maneuver follows an active second quarter for Allwyn, during which it received key certifications from European and World lottery associations and launched e-instant games in Washington D.C.
However, the company is also currently facing an investigation by the UK’s Gambling Commission related to its recent takeover of the UK National Lottery license.
