Allwyn International a leading multi-national lottery operator, announces the repricing of its USD 450 million term loan B facility due in 2031 (“TLB”) and syndication of a USD 100 million fully fungible add-on.

The repricing will reduce the interest rate margin applicable to the USD TLB facility by 25 bps to Term SOFR plus 200 bps from Term SOFR plus 225 bps. The add-on was priced at par.

The USD 100 million add-on proceeds will be used to fully repay drawings under the Company’s revolving credit facility, to pay transaction fees and expenses, and for general corporate purposes. No other material changes were made to the terms and conditions of the TLB. The maturity date remains June 11, 2031 and it will continue to rank pari passu with the existing debt of Allwyn and Allwyn Entertainment Financing (UK) Plc, under the existing intercreditor agreement. 

Kenneth Morton, Allwyn CFO, commented: “I am very pleased that this transaction has once again demonstrated the strength of investor support for our credit story in the USD institutional term loan B market. The repricing and add-on follow our debut issuance in this market in the first half of last year, and support our continued optimisation of our capital structure and cost of funds.”