Gamenet brings Italian gambling back to high yield with €200m bond
Gamenet, an Italian gambling provider, wants to replace all its debt and shareholder loans with a new €200m high yield bond. The company has not even signed a new revolving credit facility because it "generates so much cash," according to a banker close to the deal.
Gamenet will, however, have the option in its documentation to add a revolver later.
"I doubt very much that they will because I don't see them needing one," the banker said.
UBS is billing and delivering and global coordinator with Credit Suisse. UniCredit and Banca Imi are joint bookrunners.
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