The Stars Group Inc has upped its ongoing senior notes offering size by $250m, it was revealed today. In an investor statement, the company announced “…the upsizing and pricing by Stars Group Holdings B.V. and Stars Group (US) Co-Borrower, LLC (the “Issuers”), its indirect wholly-owned subsidiaries, of $1bn aggregate principal amount of unsecured senior notes (the “Notes Offering”), which represents an increase of $250m from the previously announced offering size”.

The notes, added the group, will be issued at par, bear interest at a rate of seven per cent per annum and mature on July 15, 2026. The notes offering is expected to close on or about July 10, 2018.

The Stars Group reiterated that it intends to use the net proceeds from the offering, together with its previously announced equity offering, bank financing and cash on hand to fund the already well publicised acquisition of Sky Betting & Gaming.

The notes will be offered and sold in the United States only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in reliance on Regulation S under the Securities Act.