Intralot has locked in fresh funding to back its big move for Bally’s International Interactive. The company confirmed new long-term debt financing worth €660m, which will partly cover the acquisition and also restructure its balance sheet. The Intralot debt financing comes from a mix of international lenders and Greek banks.

• Intralot signed a £400m (€460m) six-year senior secured term loan with institutional lenders. This loan will provide the bulk of the cash needed to support the Bally’s International Interactive acquisition. The agreement is structured to give the group flexibility over repayment terms.

• Alongside this, Intralot secured €200m in binding commitments from a group of Greek banks. This second loan runs for four years and will amortize, giving the company a steady repayment schedule. Together with the UK-based loan, it forms the €660m Intralot debt financing package.

• The funding will be used both to help finance the acquisition and to refinance some of Intralot’s existing debt. The company confirmed it will fold this into its permanent capital structure. The refinancing process is expected to strengthen its overall debt profile.

• Intralot has already secured consent from holders of its €130m retail bond. This approval means the bond can remain outstanding after the deal closes. The company announced this bondholder consent earlier in September.

• The group also noted it may return to the debt capital markets. The aim is to replace commitments originally sourced from certain international banks tied to the acquisition and refinancing. Intralot said it continues to monitor market conditions before making its next move.

Please find more news here.