Paddy Power Betfair plc Additional Loan Facility (7417Y)
13 Mayo 2019 - 4:15AM
UK Regulatory
TIDMPPB
RNS Number : 7417Y
Paddy Power Betfair plc
13 May 2019
13 May 2019
Paddy Power Betfair plc (the "Group")
Additional Loan Facility
The Group is pleased to announce that it has secured an
additional term loan facility of GBP250m, providing it with further
strategic financial flexibility.
This facility is in addition to the Group's existing GBP450m
five-year revolving credit facility and takes the Group's total
available committed bank loan facilities to GBP700m. The GBP450m
facility runs until April 2023 while the new facility is for an
initial period of 18 months, with an option to extend this facility
further by up to 12 months. There is no material change to the
Group's effective cost of debt as a result of this additional
facility.
The Group's balance sheet remains strong and we continue to
target a medium-term leverage range of between 1x and 2x net debt
to EBITDA.
Contacts:
Ivan Kelly, Investor Relations + 353 87 7944 999 / + 353 1 905
1262
David Jennings, Corporate Finance & Investor Relations + 353
87 951 3560 / + 353 1 905 0953
James Midmer, Corporate Communications + 44 20 8834 6843 / + 353
1 903 9106
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