Entain refinances debts and prepares for M&A with billion-dollar loan Conor Mulheir, iGaming Business · July 19, 2021 at 5:20 pm Gaming giant Entain has been allocated a first lien term loan B worth $1.125bn (£819.0m/€955.0m), with maturity on 29 March, 2027. The proceeds of the new loan will be used to refinance an existing $774m first lien term loan B, which is due to mature on 29 March, 2024. The new loan will also provide additional funds of $351m to support corporate development and merger and acquisition activity. The loan has been priced at the London Inter-bank Offered Rate (LIBOR) plus 250 basis points, or 2.5%. The borrowers will be Entain’s wholly owned subsidiaries Entain Holdings (Gibraltar) Limited and GVC Finance LLC. The transaction is expected to close by the end of July.