Stockholm-listed betting and gaming operator Betsson has successfully placed senior unsecured bonds amounting to SEK1bn (€93.3m).
The bonds have a tenor of three years and a floating interest rate of STIBOR three months plus 400 basis points, and will mature on 26 September 2022.
Betsson intends to apply for listing of the new bonds on the corporate bond list of Nasdaq Stockholm.
“There has been a strong interest from a broad range of investors in the issue, which was heavily oversubscribed,” said Betsson chief financial officer Martin Öhman. “We are also happy to see that the interest from large institutional investors throughout the Nordics has been much stronger than back in 2016 when issuing our first bond. It shows that we have the market’s support in our long-term strategy.”
The tender offer expired at midnight Thursday and has been accepted by holders of bonds representing a total nominal amount of SEK754m.
Betsson will exercise its right to make a voluntary early redemption of the bonds not tendered in the tender offer, in accordance with their terms and conditions.
Nordea and Swedbank have acted as dealer managers, tender agents and joint bookrunners in connection with the issue of new bonds and the tender offer, and Gernandt & Danielsson has acted as legal counsel.
Shares in Betsson AB (STO:BETS_B) were trading 0.58 per cent lower at SEK51.00 per share in Stockholm Friday morning.