Boulogne-Billancourt (France), 18 November 2024 (7:30 a.m.) – La Française des Jeux (FDJ), one of Europe’s leading betting and gaming operators, has announced that it has successfully placed an inaugural three-tranche bond issue for an amount of €1.5billion maturing in 6 years, 9 years and 12 years:
- €500 million of bonds maturing on 21 November 2030, with an annual coupon of 3.000%.
- €500 million of bonds maturing on 21 November 2033, with an annual coupon of 3.375%.
- €500 million of bonds maturing on 21 November 2036, with an annual coupon of 3.625%.
These new bonds will be rated Baa1 by Moody’s in line with the Group’s long-term rating of Baa1 – stable outlook.
This is FDJ’s first bond issue, with proceeds to be used to refinance most of the €2 billion credit line implemented as part of the Group’s acquisition of Kindred.
This issue follows the Group’s marketing campaign directed at French and international bond investors. Final demand exceeded €7 billion, from more than two hundred top-tier investors on each tranche, thus a transaction oversubscribed nearly 5 times, reflecting their confidence in the Group’s strategy and credit profile.
BNP Paribas, Crédit Agricole CIB and Société Générale acted as global coordinators for the transaction, alongside BofA Securities, Crédit Industriel et Commercial, HSBC, Goldman Sachs Bank Europe SE and Natixis as active bookrunners.
Furthermore, FDJ has finalised a €400 million syndicated loan with top-tier French and international banks, which will be repaid over 5 years. This financing is also intended to repay the bridging loan which will be settled with Group’s cash.