Betsson secures SEK 1bn bond placement
Declaring an ‘oversubscribed placement’, Stockholm-listed Betsson AB has secured its target SEK €1 billion (€90 million) senior secured bond transaction.
This September, Betsson governance moved to sanction a minimum SEK 500 million (€47 million) bond placement, led by Scandinavian investment banks Nordea and Swedbank acting as joint book-runners.
The bonds, placed under a framework of SEK2.5bn, have a tenor of three years and will mature on 26 September, 2022.
As previously communicated, funds from the transaction will be utilised to support Betsson’s ongoing expansion initiatives.
“There has been a strong interest from a broad range of investors in the issue, which was heavily oversubscribed” said Martin Öhman, CFO at Betsson AB.
“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.”
Source: SBC News