In order to arrange its maiden bond offering, the massive French gaming company La Française des Jeux (FDJ) intends to engage investors in the days ahead. Following its large purchase of Kindred shares, FDJ made this step as part of a larger financial plan to manage debt.
Three tranches with maturities of six, nine, and twelve years will make up FDJ’s proposed €1.5 billion bond offering. These notes are intended to refinance the majority of the €2 billion bridging credit obtained on October 7 for the €2.5 billion Kindred purchase, subject to favorable market circumstances. The bonds will be listed on the Paris-based Euronext-regulated market upon introduction, demonstrating FDJ’s dedication to openness.
The Group’s financial stability received a boost on November 7, when Moody’s awarded FDJ a Baa1 long-term credit rating with a stable outlook. This endorsement reflects confidence in FDJ’s ability to manage its financial obligations effectively.
Additional Financing Secured
In tandem with the bond issuance, FDJ is finalizing a €400 million syndicated loan agreement with prominent French and international banks. This five-year facility will further reduce the bridging loan, with repayment supported by the Group’s cash reserves.
These steps highlight FDJ’s robust approach to balancing short-term financial needs with long-term stability, particularly in light of its €2.5 billion investment in Kindred.
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