Moving to complete its $4.7 billion acquisition of Sky Betting & Gaming (SB&G), Toronto TSX-listed the Stars Group Inc, has further announced that it will launch a private unsecured loan offering for $750 million.
Updating the market, the Stars Group governance will undertake its additional $750 million debt financing through private/institutional investors, with the loan placement set to mature in 2026.
The Stars Group debt notes will be offered and sold in the United States in accordance with the corporate financing rules of the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act.
The TSX firm’s private loan offering follows last week’s corporate announcement that the company will undertake a new public share offering, divesting a total of 25 million common shares at a target price of $38.
Undertaking a corporate enlargement following the successive acquisitions of CrownBet, William Hill Australia and SB&G, the Stars Group has expanded its corporate debt facility to circa $5.1 billion.
Undertaking its corporate refinancing to assist its enlarged capacity, the Stars Group will seek to become ‘the world’s most valuable listed online gambling firm’.
Source: SBC News
