La Française des Jeux (FDJ) is set to launch its first bond issue to refinance the €2bn [$2.1bn] bridging loan the group took out to proceed with its €2.6bn acquisition of Kindred Group. FDJ will meet investors over the next few days to assess market sentiment and expectations of its enlarged business.

As detailed to markets, the bond will be issued in three tranches and total €1.5bn, with maturity set at six, nine and 12 years.

On 7 November, the ratings agency Moody’s assigned FDJ a long-term credit rating of Baa1, thus giving it a “stable outlook”.