SBC News CIRSA completes €390 million bond placement eyeing future investments

CIRSA completes €390 million bond placement eyeing future investments

Spanish gambling firm Grupo CIRSA has confirmed that it has secured a €390 million bond placement with private investors.

Issuing a market filing, CIRSA majority owned by US private equity firm Blackstone, confirms that 120 institutional investors have backed its bond arrangement, which maintains a 4.75% annual interest rate, with debt maturity triggered in 2025.

In its update, CIRSA governance details that its bond proceeds will be used to strengthen the firm’s financial structures and further help the company access direct capital for future investments.

“The placement has been very well received by investors, which demonstrates their confidence in the multinational, its operations and its economic results” CIRSA governance details to stakeholders.

The Spanish gambling group’s bond placement was supported by Deutsche Bank, Barclays, BBVA, Credit Suisse, Jefferies and UBS.

European business analysts are monitoring the movements of CIRSA closely. Backed by PE giants, Blackstone, CIRSA seeks to become the ‘global leading’ Spanish language gambling operator.  

A busy May 2019,  has seen CIRSA governance file a lawsuit against joint-venture partner Ladbrokes, contesting the ownership structure of its Sportium Spanish market sportsbook property.

Further Spanish market news, saw Blackstone acquire fruit machine supplier and arcade halls operator GIGA Games for an undisclosed sum from Barcelona fund Conei Corporacion, merging the asset with CIRSA retail portfolio.

Check Also

SBC News Codere returns to bondholders to fund global recapitalisation programme

Codere returns to bondholders to fund global recapitalisation programme

The board of Grupo Codere SA states that it is in “advanced negotiations” with existing …

SBC News DGOJ launches whistle-blower Portal of SIGMA Programme

DGOJ launches whistle-blower Portal of SIGMA Programme

DGOJ, the Gambling Directorate of Spain, continues to strengthen the sports integrity provisions of the …

SBC News Interpol network arrests 53 betting mules

Interpol network arrests 53 betting mules

An Interpol investigation has seen Spain’s National Police Force (Policía Nacional) arrest 53 individuals who …