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Evoke PLC - Gibraltar-based betting and gaming operator and owner of the William Hill and 888 brands - Successfully prices an offering by subsidiary 888 Acquisitions Ltd of €600.0m in 8.000% senior secured notes due 2031. These notes are expected to be issued on September 24. Adds that it has entered a new multi-currency revolving credit facility worth £200.0 million, replacing its existing RCFs. Proceeds from the offering and drawings from the RCF are earmarked to redeem in full the €582 million 7.558% senior secured fixed rate notes due 2027, says Evoke, and to refinance amounts under the existing €200 million RCF. Consequentially, the company expects cash interest costs to fall by around £5 million annually, coupled with an extension to its maturity profile. Also estimates a £17 million increase in net debt on completion, and an improved currency mix of debt. ‘I am pleased that we have secured a new revolving credit facility and debt refinancing, reducing interest costs and removing any significant debt maturities before 2028. The positive interest in the offering is testament to the group’s strengthened performance, strategic progress and return to growth following the reset of our operating model and new value creation plan announced last year,’ says Chief Executive Per Widerstrom. Current stock price: 58.58 pence, up 1.0% on Thursday morning in London 12-month change: down 6.8% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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