Evoke has successfully completed a significant refinancing initiative to improve its financial flexibility and reduce debt pressure. The operator confirmed the issuance of €600m worth of senior secured notes alongside the launch of a new revolving credit facility worth £200m.

Through its wholly owned subsidiary 888 Acquisitions, Evoke has made €600m worth of bonds available to private investors. These senior secured notes are backed by collateral assets and priced at an 8% interest rate, available from 24 September 2025. The bonds will mature in 2031, giving the company an extended timeline to manage repayments.

In addition, Evoke has opened a new multicurrency revolving credit facility valued at £200m. The facility, which replaces the previous arrangement, is designed to spread currency volatility and better align with the group’s global cash generation. Together, these financing tools will provide Evoke with improved liquidity and greater room to manoeuvre as it pursues its long-term growth plans.

Focus on Debt Repayment

A significant portion of the proceeds will be dedicated to repaying an existing €582m debt scheduled to mature in 2027. By refinancing ahead of time, Evoke is seeking to manage interest obligations more efficiently and avoid concentrated repayment pressures. The company expects that the new structure will lead to annual savings of approximately £5m in cash interest costs.

The funds will also cover associated fees and costs linked to the refinancing process. Management has emphasised that the primary goal of the refinancing is to stabilize the balance sheet and ensure that future financial obligations are spread over a longer period, giving the business greater breathing space.

Strong Operating Performance

Evoke’s refinancing strategy comes against the backdrop of strong operating performance in 2025. The company’s H1 2025 results showed adjusted EBITDA rising 44% year on year, a significant improvement that CEO Per Widerström attributed to an operational reset and a sharpened focus on efficiency.

The refinancing not only aligns with these operational improvements but also sets the stage for further value creation. Widerström expressed confidence that the company’s turnaround strategy is on track, with refinancing providing an important lever to support sustainable growth.

Market Reception and Outlook

The positive investor response to the bond offering is seen as a vote of confidence in Evoke’s financial health and strategic direction. Widerström commented that the strong demand reflects the group’s improved performance and progress toward delivering on its growth ambitions.

By securing fresh capital and restructuring its debt obligations, Evoke is positioning itself for a stronger financial future. The company believes the refinancing will help it maintain momentum, reduce financing costs, and build on the gains achieved through its operational reset and value creation plan.