Cirsa issues 600 million in bonds to restructure debt
Tuesday 30 de January 2024 / 12:00
⏱ 2 min read
(Barcelona).- Cirsa has launched a bond issue of 600 million euros to amortize and restructure debt, moving maturities of 2025 and 2027 to a longer horizon, until 2028 (with variable interest) and 2029 (at fixed interest), as it has informed the market. the Catalan multinational leisure and gaming company controlled by Blackstone.
The operation, which is expected to be completed in the coming days, continues the company's strategy of optimizing its debt structure and extending maturities, as it did last summer with a bond issue of 700 million that served to refinance previous issues that matured in December 2023 and 2025.
The 600 million in bonds issued now pursue four main objectives, such as redeeming the entire outstanding amount of the principal amount of 390 million of 4.75% senior secured bonds that were issued in 2019 and were due in 2025.
Also to repay 150 million of the outstanding amount of PIK Notes that matured in 2025 with an interest of between 7.25% and 8%. This is an issue that Blackstone made when it bought Cirsa in 2018, and which will now be liquidated.
Another destination will be to repay 42.5 million (representing 10%) of the 425 million principal amount of 10.375% senior secured bonds that it launched in 2022 maturing in 2027.
And the new issuance must also serve to pay the accrued and unpaid interest with respect to the 2025 bonds and the PIK bonds that are exchanged and the exchange premium and accrued and unpaid interest with respect to the 2027 bonds at 10.375% that are redeemed, as well as the fees and expenses associated with the offer.
Rating improvement
This new bond issue has been well received by the rating agencies that follow the company, so S&P has raised Cirsa's rating from B to B+.
For its part, Moody's has upgraded its outlook for the company from stable to positive.
On the other hand, Cirsa completed the transformation process into a public limited company at the end of 2023, a necessary step to go public, which has always been one of Blackstone's future options for the firm based in Terrassa (Barcelona), although It is not foreseen in the short term.
Categoría:Others
Tags: CIRSA,
País: Spain
Región: EMEA
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
ProntoPaga Consolidates Its Position at Peru Gaming Show 2026
(Lima, SoloAzar Exclusive).- Juan Carlos Loza, Head of Sales Latam at ProntoPaga, spoke exclusively after the company's participation in Peru Gaming Show 2026, highlighting the agreements reached, the interest in their payment solutions, and the expansion plans that will drive their growth across Latin America.
Monday 03 Aug 2026 / 12:00
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
