Betsson, fresh from its debut in Serbia, has outlined its plans to grow further through strategic acquisitions. The gambling group successfully issued bonds worth EUR 75 million, approximately $80.4 million, to aid its merger and acquisition (M&A) pursuits.
This bond issue comes under a broader scope allowing the company to raise up to EUR 250 million, which equates to about $267 million. The bond will operate on a three-year tenor, coupled with a floating interest rate determined by the EURIBOR of three months plus 460 bps. The company set the bond’s maturity date for September 2026.
It’s worth noting that Nordea took the reins as the global coordinator for this venture. Furthermore, both Nordea and Swedbank were instrumental in the bond issue, acting together as bookrunners. Offering legal expertise for the bond issue was Gernandt & Danielsson.
The generated funds aren’t strictly reserved for acquisitions. Betsson aims to allocate these resources for a broad spectrum of company objectives. Martin Öhman, Betsson’s CFO, shed light on the company’s vision. He mentioned, “The new bond provides us with additional financial flexibility and supports Betsson’s long-term strategy, which means continued investments to drive profitable growth.”
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