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by Stephen Carter
Jan 20, 2026 9:17 AM ET
Betclic Everest Group SAS (BANIJA) EUR750m minimum 144A/Reg S sr sec notes due Dec 2031 (6y). NC2 (MWC B+50bp) (50%,25%par). Equity claw: 2y 40%. Special call: 10% per year the first 2 years at 103. Ba3/B+/BB+ (stable/stable/stable). Via BNP (B&D)/SocGen jt glocos/Natixis jt physical books/DB/GS jt books. No reg rights. List ISE. New York law. Semi pay (30/360). CoCat 101. Denoms: 100kx1k. Settles T+10. ISINs: Reg S XS3266494221; 144A XS3266494494. IPT: mid 5s.
Price talk: 5.25% area (+/-12.5bp).
Roadshow (1x1s) 01/19-20 (investor call 10:30am UKT 01/19). Books close at 3:30pm UKT 01/20. Pricing 01/20 UKT afternoon (originally pricing 01/21). UOP: along with EUR1.5bn minimum and US$500m minimum term loan B (total sr sec debt of EUR3bn), to fund the acquisition of Tipico from CVC for EUR2.9bn equity value, and EUR1.87bn to partially repay Tipico's existing debt. Certain Tipico shareholders (Tipico's founders, Nicolas Beraud, and part of CVC's stake) will roll EUR1.817bn in equity. Equity ownership: Banijay Group/LOV Group 65%, other shareholders 35%. Biz: sports betting, casinos, poker) in Europe. HQ: Bordeaux, France.(Acquisition announced 10/28/2025).
DealRoadshow link: https://dealroadshow.com/e/BETCLIC26HYBSYND.