Evoke confirms pricing of €600m senior secured notes part of debt refinancing

• Evoke announced it has successfully priced €600m senior secured notes
• The bonds, due in 2031 with 8% interest, are going to be issued later this month
• Coinciding with the announcement, Evoke said it entered into a new revolving credit facility and anticipates decreasing its debt marginally

The world's leading betting and gaming company, parent to internationally trusted brands such as 888, William Hill and Mr Green, Evoke plc, announced its plans to sell bonds via a subsidiary to use for debt refinancing, as well as securing new credit facility and pushing debt deadlines.

The pricing of the senior secured notes was completed via 888 Acquisitions Limited

Late last week, the company said it successfully completed the pricing of €600m ($705.7m) worth of bonds via its wholly owned subsidiary, 888 Acquisitions Limited.

Serving as senior secured notes, those bonds would have an 8% interest rate and are due in 2031.

According to a statement released by Evoke, the senior secured notes are going to be issued on September 24, 2025, and are "exempt from the registration requirements of the U.S. Securities Act of 1933."

Equally as important, the company confirmed it entered into a "new multicurrency revolving credit facility in aggregate principal amount of £200,000,000 established under the Senior Facilities Agreement (as defined below) to replace its existing revolving credit facilities."

Evoke's boss is pleased with the strategic move

Per Widerström, Evoke's CEO, commented: "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."

Moreover, the executive pointed out: "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."

In conclusion, Widerström said: "We remain resolutely focused on executing our plans, deleveraging, and creating value for all stakeholders."

As explained by the company's boss, the latest strategic move seeks to extend Evoke's maturity profile, removing debt maturities before 2028.

The company also anticipates decreasing net debt marginally by £17 m ($20m).

At the same time, Evoke expects an "improved currency mix of debt to more closely align with the Group's cash generation."

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