La Française des Jeux (FDJ), one of Europe’s biggest betting and gaming companies, will meet with investors in the coming days to discuss the launch of its maiden bond offering, subject to market circumstances.
FDJ recalls that on November 7, Moody’s gave the Group a long-term credit rating of Baa1 with a stable outlook.
The FDJ bond offering, worth €1.5 billion and divided into three tranches with maturities of 6, 9, and 12 years, would be used to repay the majority of the €2 billion bridging loan, which was drawn on October 7 to finance the acquisition of Kindred shares for approximately €2.5 billion. The bonds will be traded on the Euronext regulated market in Paris.
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Furthermore, FDJ is negotiating a €400 million syndicated loan with top-tier French and foreign banks that will be repaid over a five-year period. This funding is also designed to repay the bridging loan, which will be settled using the Group’s resources.
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