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LONDON - 888 Acquisitions Ltd announced plans to issue €600 million in senior secured fixed rate notes due 2031, according to a pre-stabilization notice published Wednesday.
Deutsche Bank AG, London Branch will serve as the stabilization manager for the offering, with the stabilization period expected to begin today and end no later than October 16, 2025.
The notes will be guaranteed by multiple entities including 888 Italia Limited, Virtual Digital Services Limited, William Hill Organization Limited, and several other subsidiaries within the 888 group.
The securities will be issued at a price of 100%, with the spread over benchmark yet to be determined. The notes will carry the RegS ISIN code XS3183180937 and 144A ISIN code XS3183181075.
As part of the stabilization process, Deutsche Bank may over-allot securities or conduct transactions to support the market price of the securities at a level higher than might otherwise prevail. The maximum size of the over-allotment facility is set at 5% of the aggregate nominal amount.
The offering is directed at qualified investors outside the United States, as the securities have not been registered under the U.S. Securities Act of 1933. In the United Kingdom, the offer targets individuals with professional investment experience or high net worth persons as defined by financial regulations.
The announcement, based on a press release statement, notes that the securities will not be publicly offered in the United States and that any stabilization action may end at any time without prior notice.
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