Citi Joins Other Lenders to Finance Aristocrat Leisure’s Playtech Bid

Playtech plc (LON: PTEC) announced on Monday that Citibank has joined a group of other lenders to facilitate finances for Bidco’s £2.7 billion bid for the London-listed gaming software developer.

Bidco, which is a wholly-owned subsidiary of Australia-based Aristocrat Leisure, agreed to buy Playtech in an all-cash deal. It offered 680 pence ($9.35) for each Playtech ordinary share, which was 58 percent higher than the market price of the day when the deal was announced. In addition, the offer pushed Playtech share prices significantly higher.

An All-Cash Deal

The company has initially entered into an interim facilities agreement for a Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term loan from UBS, Australia Branch, Goldman Sachs Lending Partners and Goldman Sachs Mortgage Company for meeting the cash consideration for the acquisition.

Additionally, Bidco signed a commitment letter to fund a senior secured incremental term loan facility with UBS, Australia Branch, UBS Securities, Goldman Sachs Mortgage Company and Goldman Sachs Australia.

“The initial lenders under the Commitment Letter have transferred a portion of their commitments thereunder to Citigroup Global Markets Inc., Citibank, N.A., Citicorp USA, Inc., Citicorp North America, Inc. and/or any of their Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term ('Citi') and Citi will act as a joint lead arranger and book runner for the Takeout Term Loan Facility pursuant to an amended and restated commitment letter,” the announcement stated.

Though the two companies have already agreed on the deal, the fate of it will be decided on January 12 by Playtech shareholders with a vote.

Meanwhile, Playtech received a takeover proposal from Hong Kong-based Gopher Investments, which has already agreed to acquire Playtech’s financial trading division Finalto.