Lottomatica completes 5-yr, 350 mln euro financing
MILAN, Nov 10 (Reuters) - Lottomatica SpA (LTO.MI: Quote, Profile, Research) has entered a 350 million euro five-year senior unsecured term loan facility with a group of banks including Barclays Bank Plc (BARC.L: Quote, Profile, Research).
The loan facility will bear a variable rate of interest of 210 basis points above Euribor, a Lottomatica statement said on Monday.
Lottomatica will use the funds to reimburse a 360 million euro bond that falls due on Dec. 22.
Lottomatica said Natixis (CNAT.PA: Quote, Profile, Research) had joined the previous four banks arranging the facility, which it announced Oct. 28 and had committed to raising 300 million euros.
The four other banks are Barclays, Intesa Sanpaolo SpA (ISP.MI: Quote, Profile, Research), Mediobanca SpA (MDBI.MI: Quote, Profile, Research), and UniCredit SpA (CRDI.MI: Quote, Profile, Research). (Reporting by Nigel Tutt; Editing by David Cowell)
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