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Paddy Power Betfair secures additional £250m loan facility

Monday, 13th May 2019
Gambling company Paddy Power Betfair said it had secured an additional term loan facility of £250m, in addition to its £450m five-year revolving credit facility.

The new loan would provide further strategic financial flexibility, the company said.

The £450m facility ran until April 2023, while the new facility was for an initial period of 18 months, with an option to extend by up to 12 months.

'There is no material change to the group's effective cost of debt as a result of this additional facility,' Paddy Power said.

At 1:17pm: (LON:PPB) Paddy Power Betfair share price was -126p at 5852p

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