Playtech prices €350M bond to refinance 2028 debt
What's the deal? Gambling technology firm Playtech has priced €350 million of senior secured notes carrying a 5.5% coupon and maturing in 2031. The company announced the pricing on September 15, 2026, with settlement expected on September 22.
Why now? The proceeds will redeem all of Playtech's outstanding €300 million 5.875% notes due 2028, plus cover the redemption premium, accrued interest, and transaction costs. Playtech has served notice to redeem the existing notes on October 15, 2026.
What's the endgame? Once the deal closes, the new notes will be Playtech's only material outstanding borrowings. The company also maintains an undrawn €225 million revolving credit facility, with any remaining bond proceeds going to general corporate purposes.
The new notes are expected to be rated BB- by S&P Global RatingsDealroom has a profile for this one. Try Dealroom → and Ba2 by Moody's, and will trade on Euronext DublinDealroom has a profile for this one. Try Dealroom →. Playtech, listed on the London Stock ExchangeDealroom has a profile for this one. Try Dealroom → under PTEC, plans to publish its final offering circular on or about September 18.
The signal: By swapping higher-cost 2028 debt for a lower coupon stretching to 2031, Playtech trims its interest bill and pushes out its maturity wall. The move leaves the company with a cleaner balance sheet ahead of the new decade.
Read more: investegate.co.uk
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