Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEntain Share News (ENT)

Share Price Information for Entain (ENT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 656.00
Bid: 657.00
Ask: 657.80
Change: -16.00 (-2.38%)
Spread: 0.80 (0.122%)
Open: 670.00
High: 670.00
Low: 651.80
Prev. Close: 672.00
ENT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Entain announces "successful" loan repricing, extends maturity dates

Mon, 29th Apr 2024 10:14

(Alliance News) - Entain PLC on Monday announced the repricing of two existing Term B loans, which it said will improve liquidity by about GBP295 million.

The Isle of Man-based bookmaker, which owns Ladbrokes and Coral, said the changes applied to a USD term loan worth USD1.74 billion, and a EUR term loan worth EUR1.03 billion.

The USD loan matures in October 2029, and the margin has been reduced by 75 basis points to 275 basis points; the ten-point credit adjustment spread has also been removed.

For the EUR loan, the margin has been reduced by 50 points to 325 basis points.

Entain also announced the allocation of a USD500 million (around GBP400 million) fully fungible add-on for the USD loan, and an additional EUR235 million add-on for the EUR loan, each with the same revised margins.

Entain said the add-ons will fund in mid-May and be swapped to GBP. Of the net proceeds, GBP300 million will be used to immediately repay a bank loan from the first quarter, with the remaining approximate GBP295 million used as incremental liquidity.

Entain said these "net debt neutral" actions therefore improve its liquidity by approximately GBP295 million and extend its debt's maturity dates, by replacing the bank loan due in 2026 with the loans due in 2028 and 2029.

Entain said the re-pricings have not in isolation changed its expectations for cash interest costs. However, it has still revised its 2024 cash interest guidance to about GBP265 million from the GBP255 million anticipated in March.

Entain explained that "with economic forecasts indicating a slower rate of interest rate reduction, we are taking a more conservative view of interest costs for the balance of the year".

Shares in Entain were up 1.1% at 792.40 pence on Monday morning in London.

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
18 Jan 2024 11:47

LONDON MARKET MIDDAY: FTSE 100 subdued after Wednesday's slump

(Alliance News) - Stock prices in London stabilised at midday Thursday, following a slump on Wednesday and a busy morning of corporate updates.

Read more
18 Jan 2024 08:49

LONDON MARKET OPEN: Stocks flat; Flutter rises on strong trading

(Alliance News) - Stock prices in London opened flat on Thursday, as investors failed to find positive catalysts after steep falls on Wednesday.

Read more
11 Jan 2024 08:09

Entain's share-price weakness overdone, says Citi

(Sharecast News) - Citi has resumed coverage of Entain with a 'buy' rating, saying it see upside potential from the gambling group's US operations.

Read more
3 Jan 2024 17:48

London close: Stocks fall amid rising geopolitical concerns

(Sharecast News) - London stocks closed lower on Wednesday - the 40th anniversary of the FTSE 100's launch - as sentiment remained cautious due to increasing tensions in the Middle East.

Read more
3 Jan 2024 12:10

LONDON MARKET MIDDAY: Stocks down before Fed minutes and US PMI data

(Alliance News) - Stock prices in London were down at midday on Wednesday, in cautious trade ahead of key US data and central bank minutes in the afternoon.

Read more
3 Jan 2024 09:29

Entain appoints Eminence Capital founder Ricky Sandler to board

(Sharecast News) - Ladbrokes owner Entain rallied on Wednesday as it announced the appointment of Eminence Capital founder Ricky Sandler as a non-executive director with immediate effect.

Read more
3 Jan 2024 09:23

LONDON BROKER RATINGS: GSK raised to 'buy'; AstraZeneca cut to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
3 Jan 2024 08:58

LONDON MARKET OPEN: Stocks mixed pre-Fed minutes, amid Asia losses

(Alliance News) - Stock prices in London opened mixed on Wednesday, ahead of US Federal Reserve meeting minutes and manufacturing PMI data for the US in the evening and afternoon respectively.

Read more
3 Jan 2024 08:39

IN BRIEF: Entain adds activist investor Ricky Sandler to board

Entain PLC - London-based sports betting and gambling operator via BetMGM, Coral, Ladbrokes, PartyPoker and other brands - Appoints Ricky Sandler, founder of activist investor Eminence Capital LP, to the Entain board as a non-executive director, with Entain also agreeing to appoint an additional non-executive director "mutually agreeable to Eminence and the company". Sandler will be considered a non-independent non-executive director, and his three-year appointment is governed by a relationship agreement that limits Eminence to an 8% stake.

Read more
18 Dec 2023 17:21

Energy stocks lift UK's FTSE 100, Vodafone shines

Vodafone jumps as Iliad offers to merge Italian units

*

Read more
18 Dec 2023 16:55

LONDON MARKET CLOSE: FTSE 100 outperforms European peers

(Alliance News) - Stock prices in London closed higher on Monday, after investors shrugged off hawkish comments from US Federal Reserve officials amid festive cheer.

Read more
18 Dec 2023 15:35

London close: Stocks make small gains in wake of rate decisions

(Sharecast News) - London stocks closed with minimal changes on Monday, following a week marked by significant central bank decisions.

Read more
18 Dec 2023 11:50

LONDON MARKET MIDDAY: Stocks edge higher amid festive cheer

(Alliance News) - Stock prices in London were outperforming its European peers at midday Monday, after investors digested some hawkish comments from US Federal Reserve officials.

Read more
18 Dec 2023 09:17

LONDON BROKER RATINGS: UBS cuts Barratt, Berkeley, lifts Taylor Wimpey

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
18 Dec 2023 09:07

LONDON MARKET OPEN: FTSE 100 edges higher as Fed rally fades elsewhere

(Alliance News) - The FTSE 100 managed to eke out some minor gains at Monday's market open, while stocks elsewhere pulled back after last week's advance.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.