LeoVegas Issues Bonds of SEK 500M
The bonds have a tenor of 3 years and a floating interest rate of STIBOR three months plus 550 basis points and will mature on 10 December 2023.
LeoVegas has successfully issued a senior unsecured bond of SEK 500m under a framework of SEK 800m. The bonds have a tenor of 3 years and a floating interest rate of STIBOR three months plus 550 basis points and will mature on 10 December 2023. LeoVegas intends to apply for listing of the bonds on Nasdaq Stockholm Corporate Bond List. The proceeds from the bond issue will be used to facilitate LeoVegas' expansion strategy, refinance existing debt and for potential acquisitions. In conjunction with the transaction, LeoVegas also enters into a new three-year revolving credit facility agreement of EUR 40m.
"LeoVegas has secured a long-term and diversified financing with a combination of bank- and bond loans. We are pleased with the positive response that LeoVegas received from the bond market, appreciating LeoVegas' strong cash flows and growth prospects. Together with a strong balance sheet, LeoVegas has a stable financial position, which gives us excellent conditions to continue delivering on our expansion strategy - focusing on organic expansion as well as strategic and complementary acquisitions" says Gustaf Hagman, Group CEO
