By Devika Patel
Knoxville, Tenn., May 27 – Gaming Innovation Group Inc. reported that its subsidiary Gaming Innovation Group plc priced an oversubscribed SEK 550 million private placement of senior secured floating-rate bonds, according to a press release.
The three-year notes bear interest at a floating rate equal to Stibor plus 850 basis points.
ABG Sundal Collier ASA and Pareto Securities were the bookrunners.
The transaction “received strong demand from investors across the Nordics, continental Europe and the U.S.,” the release stated.
A call notice for the existing SEK 400 million bonds will be sent shortly, and the bonds are expected to be called in whole at the next call step down date, June 28, 2021.
Gaming Innovation is an internet gaming company that operates in Malta.
| Issuer: | Gaming Innovation Group plc
|
| Issue: | Senior secured floating-rate bonds
|
| Amount: | SEK 550 million
|
| Maturity: | Three years
|
| Bookrunners: | ABG Sundal Collier ASA and Pareto Securities
|
| Coupon: | Stibor plus 850 bps
|
| Price: | Par
|
| Call: | Make-whole call until July 2, 2019
|
| Pricing date: | May 27
|
| Settlement date: | June 11
|
| Distribution: | Private placement
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
