Flutter prices $1.3B additional senior secured notes due 2031

Flutter prices $1.3B additional senior secured notes due 2031

Flutter Entertainment (NYSE: FLUT) has announced the pricing of additional senior secured notes totaling approximately $1.3 billion, comprising three tranches: $625 million at 5.875%, €300 million at 4.000%, and £250 million at 6.125%, all due 2031 [1]. The notes, issued through Flutter Treasury DAC, will be listed on The International Stock Exchange, with settlement expected around August 7, 2025. The proceeds, along with a new U.S. dollar-denominated term loan B facility, will fund the acquisition of the remaining 5% minority stake in FanDuel and extend Flutter's strategic partnership with Boyd Interactive Gaming Holdings.

The notes include a $625 million tranche at 5.875%, a €300 million tranche at 4.000%, and a £250 million tranche at 6.125%. All tranches are due in 2031. The notes will be offered to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933, as amended [1].

The funds raised will be used to acquire the remaining 5% minority stake in FanDuel and extend Flutter's strategic partnership with Boyd Interactive Gaming Holdings. Flutter expects to utilize cash on balance sheet to pay certain costs, fees, and expenses incurred in connection with these transactions.

Flutter Entertainment is the world’s leading online sports betting and iGaming operator, with a market-leading position in the US and across the world. The company operates a diverse portfolio of leading online sports betting and iGaming brands, including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, Snai, tombola, Betfair, MaxBet, Junglee Games, Adjarabet, and Betnacional [1].

References:
[1] https://www.stocktitan.net/news/FLUT/flutter-announces-the-pricing-of-1-272-million-aggregate-principal-jjp08fr2gihq.html