Evoke Launches €600m Bond Offering as Part of Refinancing Strategy
A significant portion of proceeds will be directed towards repaying €582m of debt maturing in 2027, with the remainder used to cover associated refinancing fees and costs.
Evoke has announced the launch of €600m (£514m/$704m) in bonds through its wholly owned subsidiary, 888 Acquisitions, as part of a wide-ranging refinancing strategy designed to extend debt maturities and better align liabilities with the group’s expected performance.
The senior secured notes, backed against collateral assets, will be made available on 24 September 2025 and have been priced at 8% interest. Alongside this, Evoke is introducing a new revolving credit facility, replacing its existing facility, which will provide an aggregated £200m ($271m) across multiple currencies to mitigate volatility and reflect the group’s cash generation profile.
A significant portion of proceeds will be directed towards repaying €582m of debt maturing in 2027, with the remainder used to cover associated refinancing fees and costs. The new notes are due for repayment in 2031, and the operator anticipates annual savings of around £5m in cash interest costs under the revised structure.
Commenting on the move, CEO Per Widerström said:
“The positive interest in the Offering is testament to the Group's strengthened performance, strategic progress and return to growth following the reset of our operating model and new value creation plan announced last year.”
Related News: Evoke Partners with Ripon Racecourse for Charity Race Day in Aid of MND Association
