Evoke has confirmed the pricing of a €600m 8.000% senior secured notes issue due 2031 by its wholly-owned subsidiary, 888 Acquisitions Limited. The notes are expected to be issued on 24 September 2025.
Alongside the notes, the Group has entered into a new £200m multicurrency revolving credit facility under its Senior Facilities Agreement, replacing the company’s existing revolving credit lines.
Proceeds from the offering, combined with drawings under the new facility, will be used to redeem in full the €582m 7.558% senior secured notes due 2027, refinance amounts drawn under the existing £200m facility, and cover associated transaction fees and expenses.
Evoke stated that the refinancing is expected to lower annualised cash interest costs by around £5m, extend its maturity profile with no significant maturities before 2028, marginally increase net debt by approximately £17m to cover transaction costs, and better align its debt currency mix with cash generation.
Per Widerström, CEO of evoke, said: “I am pleased that we have secured a new revolving credit facility and debt refinancing, reducing interest costs and removing any significant debt maturities before 2028. The positive interest in the Offering is testament to the Group’s strengthened performance, strategic progress and return to growth following the reset of our operating model and new value creation plan announced last year. We remain resolutely focused on executing our plans, deleveraging, and creating value for all stakeholders.”
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Evoke has confirmed the pricing of a €600m 8.000% senior secured notes issue due 2031 by its wholly-owned subsidiary, 888 Acquisitions Limited. The notes are expected to be issued on 24 September 2025. Alongside the notes, the Group has entered into a new £200m multicurrency revolving credit facility under its Senior Facilities Agreement, replacing the…
The post evoke announces €600m senior secured notes offering appeared first on G3 Newswire.