888 Holdings (GB:888) has released an update.
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888 Holdings has announced the successful pricing of its inaugural £400 million Senior Secured Notes issuance and the establishment of an additional £50 million multicurrency revolving credit facility. The proceeds from this offering will be used to repay existing debts, leading to an expected reduction in net debt by approximately £18 million and an increase in annual cash interest costs by £4-5 million. This strategic financial move aims to improve the company’s debt maturity profile and align its currency mix with its cash generation.
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