SEC Form 8-K filed by Flutter Entertainment plc
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure. |
On April 30, 2025, Flutter Entertainment plc (the “Company”) announced, via the Regulatory News Service in London, the closing of the strategic acquisition of Snaitech S.p.A (the “Snaitech Acquisition”). A copy of the release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
| Item 8.01 | Other Events. |
As previously disclosed in the Company’s quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2024, on October 23, 2024, the Company and certain of its subsidiaries entered into an amended and restated commitment letter originally dated September 12, 2024 with certain banks (the “Commitment Parties”) to obtain binding commitments in respect of a senior secured first lien term loan comprising an aggregate Euro principal of €2.5 billion (the “Facility”) to fund, among others, the Snaitech Acquisition.
On April 29, 2025, the Company and certain of its subsidiaries converted the binding commitments into a definitive bridge credit agreement (the “Bridge Credit Agreement ”) with the Commitment Parties to draw down the Facility in full.
The Company plans to use the Facility to (directly or indirectly):
| (i) | finance or refinance amounts payable in connection with the Snaitech Acquisition; |
| (ii) | finance or refinance certain indebtedness as the Company may elect; |
| (iii) | pay fees and/or expenses in connection with the foregoing; and |
| (iv) | finance general corporate purposes and working capital of the group. |
The Facility will:
| (i) | mature April 29, 2026, with two additional six month extension options; and |
| (ii) | bear interest at a per annum rate equal to EURIBOR plus an applicable margin equal to 1.25%, which shall be subject to certain step-ups over the term of the Facility. |
The other terms of the Bridge Credit Agreement are substantially similar to the terms of the Term Loan A, Term Loan B and Revolving Credit Facility Agreement dated as of November 24, 2023 (and as amended from time to time) entered into between, amongst others, the Company and J.P. Morgan SE as Administrative Agent.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | RNS Announcement, dated April 30, 2025. | |
| 104 | The cover page of this Current Report on Form 8-K, formatted in Inline XBRL | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Flutter Entertainment plc | ||||||
| (Registrant) | ||||||
| Date: April 30, 2025 | By: | /s/ Fiona Gildea | ||||
| Name: | Fiona Gildea | |||||
| Title: | Deputy Company Secretary and Head of Governance | |||||