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A&O Shearman advises Entain on its inaugural EUR500 million high yield bond issuance

A&O Shearman advises Entain on its inaugural EUR500 million high yield bond issuance
Published Date
Nov 27 2025
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Image of John Kicken
John KickenPartner, London
Image of Sampada Bannurmath
Sampada BannurmathSenior Associate, London
Image of Sonali Sharma
Sonali SharmaAssociate, London
Laurens de KorteAssociate, London
A&O Shearman has advised Entain, a leading sports betting and gaming company, on its issuance of EUR500m 4.875% senior secured notes due 2031. The debut high yield is part of Entain’s strategy to diversify its financing sources and proactively extend its debt maturity profile. As a result of the transaction, Entain has been able to opportunistically refinance part of its existing floating-rate loans at a lower fixed-rate coupon.

Entain is one of the world’s leading sports betting and gaming companies, with leadership positions in key markets, such as the United Kingdom, the United States, Australia, Italy, Croatia, Poland and Brazil. It operates more than 35 brands across over 30 markets located in Europe, the Americas, Asia-Pacific and Africa, including well-known brands such as Ladbrokes, Coral, Sportingbet and bwin, as well as its joint venture, BetMGM. Entain is listed on the Main Market of the London Stock Exchange and is a constituent member of the FTSE 100.

The A&O Shearman team was led by head of high yield John Kicken, together with senior associate Sampada Bannurmath, and associates Sonali Sharma and Laurens de Korte.

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