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BRIEF-Intertain announces debt financing to fund earn-out pre-payment
December 16, 2016 / 4:01 PM / 9 months ago

BRIEF-Intertain announces debt financing to fund earn-out pre-payment

Dec 16 (Reuters) - Intertain Group Ltd :

* Intertain announces debt financing to fund earn-out pre-payment

* Debt finance comprised of sterling equivalent £70 million incremental first lien term loan and a £90 million second lien term loan facility

* Proceeds from debt financing have been used to fund a £150 million pre-payment of earn-out payment

* Incremental first lien facility will mature in april 2022

* Second lien facility will mature in december 2022

* Raised additional debt finance in an aggregate sterling equivalent amount of £160 million

* Continues to expect that amount of earn-out will exceed amount of pre-payment

* Discussions with UK listing authority in relation to listing of Jackpotjoy Plc’s ordinary shares on lse are continuing Source text for Eikon: Further company coverage:

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