Playtika receives NDRC approval for potential $800 million bond issuance

Playtika Holding Corp., a publicly traded company with its headquarters in Herzliya Pituach, Israel, has obtained approval from China’s National Development and Reform Commission (NDRC) for its controlling shareholder to issue bonds worth up to $800 million. The NDRC, China’s regulatory body overseeing foreign indebtedness, granted this approval under the Foreign Debt Rules.

Playtika can utilize the funds raised from this bond issuance to prepay a portion of its outstanding term loan under its existing credit agreement, which was signed on December 10, 2019. This NDRC approval remains valid until July 30, 2027, and must adhere to the regulations laid out in the Foreign Debt Rules. These rules mandate that Chinese enterprises seek specific permissions when their controlled overseas entities issue or alter the terms of certain foreign debt.

Playtika disclosed this development in a press release and also filed a statement with the U.S. Securities and Exchange Commission. The information presented here is derived directly from the company's official announcement and subsequent SEC filing.