Evoke has launched a €600m ($704m) bond issuance through its subsidiary, 888 Acquisitions, opening the notes to private investors as part of a wider refinancing plan.
The initiative is designed to extend debt maturities and better align repayment obligations with the group’s projected financial performance. The bonds will be issued as senior secured notes, backed by collateral assets, and are set to be available from 24 September 2025 at an 8% interest rate.
Alongside this, Evoke is introducing a new revolving credit facility worth £200m ($271m), replacing its current facility. Structured across multiple currencies, the facility is intended to mitigate volatility and match the company’s cash flow profile. A significant share of the proceeds will go toward clearing a €582m debt maturing in 2027, with the remainder allocated to fees and refinancing costs.
The bonds will mature in 2031, and Evoke expects the refinancing measures to deliver annual savings of £5m in cash interest payments.
Per Widerström, CEO at Evoke, has mentioned:
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.
