The governance of Stockholm-listed Betsson AB has announced that it will pursue issuing a new senior unsecured bond, seeking to raise minimum debt funding of SEK 500 million (€47 million), helping the firm’s ongoing expansion initiatives.
Updating investors, Betsson governance has instructed Scandinavian investment banks Nordea and Swedbank to act as joint book-runners, leading the transaction’s investment procedures.
Betsson governance discloses that it seeks three-year tenure on its unsecured bond terms, which will be issued subject to market conditions.
“Betsson has the ambition to grow, organically and through acquisitions. This should be done in a profitable and sustainable manner, primarily in locally regulated markets and we continuously evaluate additional markets to grow in. With this planned bond issue, we secure financial flexibility to execute our long-term strategy”, Pontus Lindwall, Group CEO and President of Betsson AB.
Despite operating within the consolidated European online gambling marketplace, Betsson AB has not sanctioned a debt bond since November 2016, securing SEK 1 billion (€86 million) to fund the firms acquisitions of Racebets Germany and UK interactive gambling operator NetPlay TV for £26 million.