European lottery operator SAZKA Group has increased the total nominal value of its new five-year senior bond issuance to CZK6.0bn (€232.1m).

The company had announced plans last month to issue the new mid-term notes with a value of CZK5.0bn.

This increase follows strong interest from both retail and institutional investors, as well as favourable market conditions for Sazka’s businesses across various markets.

The subscription period began on 23 August, with orders in excess of CZK5.0bn having already been received from several Czech financial institutions including J&T BANKA, Česká spořitelna, Komerční banka and UniCredit Bank Czech Republic, which have been mandated to offer the bonds in both the Czech and Slovak markets.

The subscription period for the issue will end on 16 September, with the notes listed and starting trading on the Prague Stock Exchange a week later on 23 September.

“We are delighted to see such traction,” said Sazka Group head of investor relations Radek Nemecek. “We believe this is a testament to Sazka Group’s strong performance and the stable business model that we have built over the course of the last seven years.

“This bond also marks one of the largest private issuances by volume in the Czech market’s history.”