Shares of Cirsa closed yesterday’s session (July 7) with a rise, trading at around 13.06 euros per share. The increase came after the announcement that the company will launch an issuance of senior secured bonds, through its subsidiary Cirsa Finance International, maturing in 2032 and with an aggregate nominal amount of 500 million euros.
According to information Cirsa has provided to the Comisión Nacional del Mercado de Valores (CNMV), the funds obtained from the issuance, if completed, will be used to redeem the entire outstanding principal amount of the senior bonds with a 7.875 percent coupon maturing in 2028, amounting to 375 million, and to pay the redemption premium and accrued interest on them.
They will also be used to pay the commissions and expenses related to the bond offering and for corporate purposes such as financing the group’s acquisition activities as they arise, debt repayment, and working capital needs.
One year of Cirsa on the stock market
The owner of Sportium will celebrate its first anniversary on the Spanish stock exchanges tomorrow (July 9) and is going through a peculiar situation: its shares have fallen 14% since its stock market debut in 2025, but the company maintains solid operating performance and continues to enjoy the confidence of analysts.
The first quarter figures support Cirsa. The firm controlled by Blackstone announced net profits attributed of 34.6 million euros, 85% more than in the same period the previous year. Likewise, net operating revenues were 623 million euros, representing a year-on-year increase of 8%.
Despite the backing of analysts, one of the challenges Cirsa faces is the exposure of 30% of its revenue to Latin American currencies. According to Fitch Ratings, this “creates unhedged exchange rate positions that could affect cash flow and financial flexibility.”
The online division of the company led by Joaquim Agut also suffered the impact of the gambling tax increase in Peru, one of the most important markets for the operator (representing approximately 9.8% of its total Ebitda). It was likewise affected by regulatory changes in its international markets.
Despite the setbacks, Cirsa anticipates a year of growth in the mergers and acquisitions (M&A) market in Latin America and Western Europe.