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Business Description

Codere Group is a global gaming and entertainment company, known for casinos, bingo halls, and online betting. They prioritise responsible gaming and innovation in multiple markets.

Bond Information

Coupon
12.75%
Coupon Type

9.5% Cash or 4.5% Cash and 6.25% PIK

Current Yield
5100.000%*
30 Nov 2027
Previous Payment
30 Apr 2025
Next Interest Payment
31 Oct 2025
Interest Period
6 months
XS1513765922
Senior Secured
€515,625,000
S&P:  C
Moody's:  C
Fitch:  WD
31 Oct 2023 at 103
31 Oct 2024 at 102
31 Oct 2025 at 100
Status
Payments on time

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Company Legal Name
CODERE FIN 2
Industry
Entertainment, Media & Broadcasting
Country of Origin
Spain
Year of Incorporation
1980
Ownership Status
Public

Important News

27 Nov 2023

Codere Communications

06 Nov 2023

October 2023 Update

30 Mar 2023

Announcement of €100,000,000 of additional liquidity funding to support implementation of Codere’s business plan supported by Codere’s largest shareholders and noteholders

28 Oct 2021

Codere now expects that the Restructuring will complete on the 10th of November 2021. Full details here.

20 Oct 2021

Announcement of Consent Solicitation Results

23 Apr 2021

Restructuring & Bridge Financing Announcement

31 Mar 2021

Update on negotiation with bondholders and interest payment deferral

30 Oct 2020

Refinancing Completion

17 Sep 2020

Notice of Scheme Meeting

13 Jul 2020

Refinancing & Amendment of existing notes

07 May 2020

Coupon deferral, subsequent payment & ratings downgrade (Moodys)

28 Apr 2020

Codere operations status

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Capital at risk.

Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are purchasing Fractional Bonds, each one backed by a specific bond. See Risk Statement.