Playtech to set initial talk for €300 million five-year secured notes in low-to-mid 6% area

By Paul A. Harris

Portland, Ore., June 20 – Playtech plc plans to set initial price talk for its €300 million offering of five-year senior secured notes (Ba2/BB) in the low-to-mid 6% area, according to market sources.

The deal is expected to price on Wednesday.

The notes come with two years of call protection.

Citigroup, NatWest, Santander and UniCredit are the leads.

The U.K.-based software and gaming company plans to use the proceeds to pay down its revolving credit facility and for general corporate purposes.

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