Spanish gambling company Cirsa launched a debt sale on Monday seeking to raise 650 million euros from new senior secured bonds, according to a term sheet seen by Reuters.
The new debt – consisting of fixed rate and floating-rate bonds both maturing in 2028 – will be used to repay outstanding bonds due in 2023 and 2025, the memo said.
Reuters reported in May that Cirsa’s owner Blackstone was weighing options for the company, including an initial public offering of shares and a refinancing of Cirsa’s debt.
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The latest refinancing comes less than a year since Cirsa issued 425 million euros of senior debt maturing in 2027.
It also agreed with banks last year to increase an existing credit line to 275 million euros and extend it to late 2026.
Source: Market Screener
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