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GVC CEO Kenneth Alexander announced that GVC Holdings will earn €320 million leveraged loan, making the company’s first venture into syndicated debt markets in order to get cheaper, longer term financing.
As a matter of fact, long-term refinancing provides greater visibility and security in terms of GVC debt facilities. To have GVC inaugural institutional loan market financing completed and to have been significantly oversubscribed is a reflection of the progress made by GVC – said the CEO.
The new financing plan will repay a €250m short-term unsecured loan facility from Nomura with a €70m revolving credit facility that was put in place in October 2016 to repay in part a €400m loan provided by Cerberus Business Finance.
