Login/Register
Evolution
Evolution
High 5 Games
OpenBet

LeoVegas eyes bond issue to finance growth strategy

27th November 2020 10:18 am GMT
LeoVegas

Stockholm-listed gaming operator LeoVegas is considering an unsecured bond issue to help finance growth and potential acquisitions.

LeoVegas said Friday that it has engaged SEB and Swedbank as joint bookrunners to explore the conditions to issue a senior unsecured bond with an expected value of SEK500m, with investor meeting set to begin next week.

The proceeds of a bond issue would used to pay down existing debt and to facilitate LeoVegas’ expansion strategy, including potential acquisitions.

The company has also secured a new three-year revolving credit facility of €40m and has pledged to maintain a net debt to adjusted EBITDA ratio of no more than 1x over the long-term.

“With this, we ensure a long-term and stable financing for LeoVegas. We strengthen the company’s financial flexibility and diversify our financing with the combination of a bond and new bank loans,” said Gustaf Hagman, Group CEO of LeoVegas.

“This enables us to continue to deliver on our expansion strategy where we focus on regulated markets and markets soon to become regulated. Further, we continuously evaluate strategic and complementary acquisitions that may fit into the LeoVegas Group.”

Shares in LeoVegas AB (STO:LEO) were trading 2.75 per cent higher at SEK33.66 per share in Stockholm Friday morning.

Related Videos
Greentube
Pragmatic Solutions
Sportradar
digitain
Gamomat
Future Anthem
Genius Sport
NeoGames
G2E
Relax Gaming
High 5 Games
Pronet Gaming