The senior unsecured bond issue comprises a framework of up to €25.0m with a tenor of three years. The bonds have a final maturity date in September 2026.
Setting out the reasons behind the issue, Betsson says proceeds will be used towards general corporate purposes. These include, but are not limited to, new acquisitions.
Nordea acted as global coordinator with Nordea and Swedbank as joint bookrunners in connection with the issue. Gernandt & Danielsson acted as legal counsel.
“The new bond provides us with additional financial flexibility and supports Betsson’s long-term strategy,” Betsson chief financial officer Martin Öhman said. “This means continued investments to drive profitable growth.”
Mapping out Betsson’s wider growth plans
The issuance comes after Betsson this week announced its entrance into the Serbian market, securing a licence in the country. Betsson’s online casino is now live in Serbia, operating under the Rizk brand.
The operator said the launch forms part of its wider strategy to grow through geographic expansion into new markets. Potential acquisitions could support such moves in the longer term.
Betsson had also been hoping to secure a licence in the Netherlands but in July dropped such plans for the time being.
The operator had been seeking a licence through its subsidiaries to roll out online gambling in the country. However, Betsson said “significant” delays in the licensing process led to it withdrawing its applications.
Betsson said it also took into account resource allocation, given the “attractive” project pipeline in other markets. However, Betsson said it could reapply for a Dutch licence in the future.
Original article: https://igamingbusiness.com/finance/betsson-acquisitions-bond-issue/
