Flutter Entertainment Amends Credit Agreement, Extends Maturities to 2032 and Expands RCF to $1.86B

Overview of the Filing

On October 30, 2026, Flutter Entertainment plc (NYSE: FLUT) entered into a First Amendment and Restatement Agreement amending its Term Loan A, Term Loan B, and Revolving Credit Facility Agreement dated November 24, 2023.

Key Terms & Financial Impact

1. Extended Debt Maturities:

   • The maturity dates for the Group's Term A facilities and the revolving credit facility (RCF) have been extended to May 3, 2032.

2. Revolving Credit Facility Expansion & Currency Shift:

   • RCF commitments have been upsized to $1.86 billion.
   • Base currency for the RCF shifted from British Pounds (Sterling) to U.S. Dollars (USD), aligning with the company's expanding U.S. operations and NYSE primary listing profile.

3. Term A Facilities Restructuring:

   • Redenominated exclusively into U.S. Dollars and Euros.
   • Following the amendment, outstanding balances consist of €382 million of Term A2 loans and $1,374 million of Term A3 loans, with no Sterling-denominated Term A loans remaining.

4. Covenant & Pricing Adjustments:

   • Replaced the net total leverage financial covenant with a net first lien leverage financial covenant, with the covenant threshold increased to 5.70:1.00, providing enhanced balance sheet flexibility.
   • Applicable interest rates will be based on relevant reference rates (Term SOFR, EURIBOR, or SONIA) plus an applicable margin between 1.40% and 2.00% per annum, determined by the company's corporate credit ratings from Moody's, S&P, and Fitch.

Significance for Investors

This refinancing enhances Flutter's liquidity buffer, extends debt amortization schedules out to 2032, and better aligns debt currency denominations with its USD- and EUR-heavy earnings base while securing more flexible covenant terms.