Flutter Entertainment raises revolving credit facility to $1.86 billion
FLUT•Flutter Entertainment amended its credit agreement on Oct. 30, extending term A and revolving facility maturities to May 3, 2032, and increasing revolving commitments to $1.86 billion.
1. Credit agreement changes
The amended agreement switches the revolving facility’s base currency from sterling to U.S. dollars and eliminates sterling-denominated borrowings. Term A facilities now comprise €382 million of term A2 loans and $1.37 billion of term A3 loans. A net first lien leverage covenant replaces the net total leverage covenant, and the financial covenant level rises to 5.70:1.00.
2. Loan pricing
Term A and revolving loans carry applicable benchmark rates plus margins of 1.4% to 2%, determined by Moody’s, S&P and Fitch corporate ratings.
