Playtech Lines Up €350 Million Senior Secured Notes to Retire 2028 Debt

Playtech plc has priced a €350 million offering of 5.5 per cent senior secured notes due 2031, with net proceeds to be used to redeem all of its outstanding €300 million 5.875 per cent senior secured notes due 2028, the company said in a regulatory announcement on September 15, 2026.

Playtech said the New Notes are expected to be assigned a rating of BB- by S&P Global Ratings UK Limited and Ba2 by Moody’s Investors Service Ltd upon issue. The New Notes are expected to settle on September 22, 2026.

Terms of the New Notes

Application will be made to the Irish Stock Exchange plc, trading as Euronext Dublin, for the New Notes to be admitted to the Official List of Euronext Dublin and to trading on the Global Exchange Market, the exchange-regulated market of Euronext Dublin.

Full details of the New Notes will be set out in a final offering circular that Playtech intends to publish on or about September 18, 2026. Following publication, copies of the offering circular will be available for inspection at the offices of Citibank N.A., London Branch, the Principal Paying Agent, at Citigroup Centre, Canada Square, Canary Wharf, London, and on the website of Euronext Dublin. The announcement states that it is not an offer of securities for sale in any jurisdiction and that investors should not subscribe for or purchase the securities except on the basis of information contained in the offering circular.

Use of Proceeds and 2028 Notes Redemption

Net proceeds of the issue will redeem all of the outstanding €300 million 5.875 per cent senior secured notes due 2028, referred to in the announcement as the Existing Notes, and will pay the redemption premium and accrued interest on those notes as well as other transaction-related costs and expenses, Playtech said. The balance will be used for general corporate purposes.

The company has served notice to redeem the Existing Notes on October 15, 2026. The redemption is conditional upon the closing of, and receipt by the issuer of the net proceeds of, the issuance of the New Notes.

Following the issue of the New Notes and the redemption of the Existing Notes, Playtech’s only material outstanding borrowings will be the New Notes, according to the announcement. The company also maintains a €225 million revolving credit facility, which is currently undrawn.

Bookrunners and Distribution Restrictions

Banco Santander, S.A., Citigroup Global Markets Limited, NatWest Markets Plc and MUFG Securities EMEA plc are acting as joint bookrunners on the transaction, while AIB Group (UK), p.l.c., trading as Allied Irish Bank (GB), is acting as co-manager.

The New Notes have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold within the United States or to, or for the account or benefit of, US persons except in certain transactions exempt from the act’s registration requirements. Playtech said it does not intend to register any portion of the offering under US securities laws or to conduct a public offering of securities in the United States, and the announcement may not be taken or transmitted into the United States.

Under the product-governance assessments set out in the announcement, the target market for the New Notes is eligible counterparties and professional clients only, under both the EU’s MiFID II rules and UK MiFIR. The New Notes are not intended to be offered, sold or otherwise made available to retail investors in the European Economic Area or the UK. No key information document required for offering or selling the New Notes to retail investors in the EEA has been prepared, and no equivalent disclosure document for UK retail investors has been prepared, the announcement states.

Founded in 1999 and listed on the Main Market of the London Stock Exchange, Playtech describes itself as a business-to-business technology provider to the online betting and gaming industry. The company states that it has more than 7,400 staff across 20 countries and operates in more than 50 regulated and regulating jurisdictions worldwide.

According to the announcement, Playtech provides operators with a proprietary end-to-end turnkey solution comprising its platform, known as PAM+, together with content and services. The company’s product suite covers casino, live casino, sports betting, bingo and poker.