INTRALOT SIGNS €225 MILLION SYNDICATED LOAN FACILITY
INTRALOT announces the signing of a 3-year, €225 million syndicated loan facility (with a two-year extension option) out of its subsidiary INTRALOT Finance UK Limited. The facility will refinance the existing €200 million syndicated loan due May 2017, which will be fully repaid.
The transaction was arranged by Alpha Bank (co-ordinator) and Piraeus Bank and included Eurobank, National Bank of Greece, Nomura International and Société Générale (facility agent).
Mr. Georgios Koliastasis, Group Chief Financial Officer of INTRALOT, stated: “The refinancing and facility limit increase of INTRALOT’s syndicated loan concludes a comprehensive liability management program amounting to €525 million which we launched in September 2016 with our new 5-year bond issuance. Thanks to our Company’s strategic initiatives and the confidence of the capital markets and the international bank market, we have managed to reduce substantially our average cost of funding, de-leverage our capital structure and secure additional lines of credit. The substantial improvements in our financial position provide the framework and financing tools for our future investments, products and services portfolio expansion and overall value creation for our shareholders.”