{"id":256,"date":"2024-06-27T05:27:17","date_gmt":"2024-06-27T02:27:17","guid":{"rendered":"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/"},"modified":"2024-06-27T05:27:17","modified_gmt":"2024-06-27T02:27:17","slug":"888-to-raise-e200-million-to-refinance-william-hill-debt","status":"publish","type":"post","link":"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/","title":{"rendered":"888 to Raise \u20ac200 Million to Refinance William Hill Debt"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/3FWfLgAIgtI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Eight Eight Eight declared its intention to procure two hundred million euros (two hundred and nine point six million dollars\/one hundred and seventy-two point seven million pounds) via the debt capital markets to reorganize liabilities connected to the takeover of William Hill.<\/p>\n<p>The enterprise will release senior secured fixed-rate notes and senior secured floating-rate notes due in 2027 and 2028, respectively, through its 888 acquisition subsidiary at a coupon rate of seven point five five eight percent.<\/p>\n<p>This liability bears resemblance to the debt 888 issued in July, when the firm garnered seven hundred million euros to settle &#8220;outstanding sums under particular acquisition financing agreements&#8221; forged during the acquisition of the William Hill business, as well as to settle a portion of the acquired target&#8217;s own liabilities.<\/p>\n<p>The proceeds from this issuance will be utilized to settle the company&#8217;s three hundred and forty-seven million pound sterling-denominated loan obtained for the acquisition financing.<\/p>\n<p>Eight Eight Eight asserted that the company &#8220;will engage in appropriate hedging arrangements and it is anticipated that this transaction will not have a substantial effect on the company&#8217;s overall debt expenses, cash interest expenses or leverage.&#8221;<\/p>\n<p>Unreasonable leverage. <\/p>\n<p>During the month of November, 888 disclosed that the organization is more susceptible to increasing interest rates due to its outstanding debt. <\/p>\n<p>The debt amount is greater than predicted prior to the announcement of the agreement due to the final structure of the William Hill acquisition. 888&#8217;s debt amount is 5.7 times its earnings, &#8220;considerably higher&#8221; than its medium-term goal of 3 times. <\/p>\n<p>The organization is highly vulnerable to rising interest rates as only 36% of its total debt is fixed rate, with the remaining portion being affected by variable rates. Central banks in Europe and the United States are increasing interest rates due to global economic conditions, and are anticipated to continue doing so for a period of time. <\/p>\n<p>&#8220;Although our present financial leverage is greater than our medium-term objective, our efficient operations and capital discipline will provide us with a clear path to decrease leverage to less than 3.5 times by the end of 2025,&#8221; stated 888 CEO Itai Pazner. <\/p>\n<p>Despite the difficulties presented by the business&#8217;s leveraged debt, Pazner remains hopeful about the synergies between 888 and William Hill. <\/p>\n<p>&#8220;Our long-term potential remains thrilling. Developing a unified technology platform will provide us with genuine future growth opportunities, and we will utilize our world-class brands, products and content leadership, and customer excellence to position our business for expansion over the next decade.&#8221;<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eight Eight Eight declared its intention to procure two hundred million euros (two hundred and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Raises \u20ac200M for William Hill Takeover<\/title>\n<meta name=\"description\" content=\"888 Holdings secures \u20ac200 million via debt capital markets to restructure liabilities from the William Hill acquisition.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"888 to Raise \u20ac200 Million to Refinance William Hill Debt\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"888 Holdings secures \u20ac200 million via debt capital markets to restructure liabilities from the William Hill acquisition.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Next Generation of Online Casino Entertainment\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T02:27:17+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/\",\"url\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/\",\"name\":\"888 Raises \u20ac200M for William Hill Takeover\",\"isPartOf\":{\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-27T02:27:17+00:00\",\"dateModified\":\"2024-06-27T02:27:17+00:00\",\"author\":{\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"888 Holdings secures \u20ac200 million via debt capital markets to restructure liabilities from the William Hill acquisition.\",\"breadcrumb\":{\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/2024\/06\/27\/888-to-raise-e200-million-to-refinance-william-hill-debt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"888 to Raise \u20ac200 Million to Refinance William Hill Debt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/uptownacesnodepositbonuscodes.icu\/\",\"name\":\"Experience the Next Generation of Online Casino Entertainment\",\"description\":\"Unleash your gambling potential with our up-to-date news, comprehensive reviews, and expert articles. 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