Betsson Seeks to Raise €100M in New Bond Issuance for Refinancing and Expansion
Betsson has announced plans to raise €100 million through the issuance of new senior unsecured bonds with a three-year term.
Key Financial Institutions Leading the Process
The proceeds will be used to refinance existing bonds and support general corporate activities, including potential acquisitions. This move is part of Betsson’s broader financial strategy to optimize its debt structure and strengthen its market position.
The bond issuance will be coordinated by Swedbank AB, with Arctic Securities acting as the bookrunner under a €250 million bond framework. Starting today, September 9, 2024, the banks will engage with credit investors to explore the potential interest in the new bonds.
Tender Offer for Existing Bonds
Simultaneously, Betsson is inviting holders of its existing €100 million senior unsecured bonds, due in June 2025, to tender their bonds for purchase.
The offer is priced at 103.25% of the nominal value, plus accrued and unpaid interest. The tender will remain open until September 12, 2024, with settlement expected around September 19, 2024.
The tender offer is contingent upon the successful issuance of the new bonds. Betsson has also indicated that it may consider an early redemption of any bonds not tendered under the same terms, reinforcing its intent to optimize its capital structure.
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