Winvia Entertainment (LSE:WVIA) has agreed a new £33 million three-year term loan with Barclays Bank, replacing its existing banking facility with Eurobank.
The technology-led entertainment group, focused on prize draw and online gaming, will also receive a £5 million revolving acquisition facility from Barclays, with an uncommitted accordion option to expand this by up to a further £15 million.
The board said the facilities were secured on attractive terms and would give the group more flexibility to pursue its growth strategy.
Winvia held net cash of approximately £31.8 million as at 30 June, underscoring the scale of firepower now available alongside the new debt lines.
"The refinancing with Barclays establishes a secure, long term capital structure with low leverage", said chief financial officer Simon Hay, adding that the facilities provide "substantial funding capability to execute on our pipeline of consolidation opportunities within the fragmented UK prize draw sector."
The new structure positions Winvia to act on that pipeline as opportunities arise.
News Intelligence what this means for the company
Winvia has refinanced £33m of debt with Barclays on what management describes as attractive terms, replacing a Eurobank facility and adding a £5m acquisition revolver with a £15m accordion option. Combined with £31.8m in net cash on the balance sheet as at 30 June, this gives the company approximately £49.8m in total liquidity to pursue consolidation in the fragmented UK prize draw sector—a stated strategic priority.
The refinancing extends Winvia's debt maturity to three years and explicitly positions the company to execute on a pipeline of acquisition targets in its core market. The scale of available firepower (net cash plus new facilities) relative to the company's stated focus on consolidation suggests management has identified specific targets, though none are named in this announcement.
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