Report
Lottomatica : Issuance Focus
Lottomatica is back on the high-yield market to issue € 500m of fresh money, split between a tap of the existing 7.125% € 565m fixed SSNs due 2028 (issued in May 2023) and the issuance of a new FRNs (7NC1). Net proceeds, along with € 145m of cash on balance sheet, are earmarked to fund the acquisition of sport betting operator SKS365, for an EV of € 625m, i.e. 9.3x EBITDA pre-synergies (5.1x post-synergies), which is in line with standard valuation for such target. In parallel, t...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Joan Sehim
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