Flutter to launch €1 billion equivalent U.S. term loan B on Tuesday

By Sara Rosenberg

New York, Sept. 2 – Flutter Entertainment plc is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a €1 billion equivalent U.S. dollar term loan B due July 2028, according to a market source.

Barclays is the sole physical bookrunner on the deal. Deutsche Bank is the administrative agent.

The term loan has 101 soft call protection for one year, the source said.

Commitments are due at noon ET on Sept. 20, the source added.

Proceeds will be used with euro and U.S. term loan A borrowings and other euro-denominated senior secured debt to fund the acquisition of Sisal SpA from CVC Capital Partners Fund VI for €1.913 billion, which was completed on Aug. 4.

Flutter Entertainment is a Dublin-based sports betting and gaming operator. Sisal is an Italian online and retail gaming operator.

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