01—Abstract
Summary
Summary of the 8-K filed May 23, 2025. Cited figures are marked; the original filing is the authoritative source.
Flutter Entertainment plc (NYSE: FLUT; LSE: FLTR) announced on May 23, 2025 the pricing of a debt offering by its subsidiary Flutter Treasury DAC, consisting of $1,000 milliona of 5.875% senior secured notes due 2031, €550 million of 4.000% senior secured notes due 2031, and £450 million of 6.125% senior secured notes due 2031.
Each series was issued at par of its nominal value. The company also priced a new U.S. dollar-denominated term loan B facility, referred to as the Third Incremental TLB Facility. The company states that the proceeds from the Notes and the new term loan are expected to be used to repay all amounts due under a bridge facility, which Flutter used in part to fund its acquisition of Snaitech S.p.A., to fund general corporate purposes, and to pay certain costs, fees and expenses related to these transactions.
Settlement of the Offering is expected on or around June 4, 2025, subject to customary closing conditions, and an application will be made for the Notes to be admitted to trading on The International Stock Exchange. The Notes are offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and have not been registered under the Securities Act. The filing itself is a financing-related disclosure under Item 8.01 that incorporates the press release by reference and does not present financial results.
02—Key points
Key Highlights
- Flutter Treasury DAC, a Flutter subsidiary, priced $1,000 million of 5.875% senior secured notes due 2031.
- Flutter Treasury DAC also priced €550 million of 4.000% senior secured notes due 2031 and £450 million of 6.125% senior secured notes due 2031.
- All three note tranches were issued at 100% of nominal value, per the 8-K text.
- Flutter priced a new U.S. dollar-denominated term loan B facility, the Third Incremental TLB Facility.
- Proceeds are expected to repay all amounts under a bridge facility used in part to fund the acquisition of Snaitech S.p.A.
- Settlement is expected on or around June 4, 2025, subject to customary closing conditions.
- The Notes are offered only under Rule 144A and Regulation S and have not been registered under the Securities Act.
03—Questions
Frequently Asked Questions
What did Flutter announce in this 8-K?
Flutter announced the pricing of senior secured notes due 2031 in three currencies, issued by its subsidiary Flutter Treasury DAC, and the pricing of a new U.S. dollar term loan B facility.
How much debt was priced in the notes offering?
The offering comprised $1,000 million of 5.875% USD notes, €550 million of 4.000% EUR notes, and £450 million of 6.125% GBP notes, all due 2031.
What will the proceeds be used for?
The filing states the proceeds from the Offering and the Third Incremental TLB Facility are expected to repay all amounts due under a bridge facility used in part to fund the Snaitech S.p.A. acquisition, fund general corporate purposes, and pay related costs, fees and expenses.
When is the offering expected to settle?
Settlement is expected to occur on or around June 4, 2025, subject to customary closing conditions.
Are the Notes registered for public sale in the United States?
No. The Notes have not been registered under the Securities Act and are offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.
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