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Stockholm-listed betting and gaming operator Betsson has successfully placed senior unsecured bonds amounting to SEK1bn (€93.3m), after attracting interest from several large institutional investors throughout the Nordic region.
This September, Betsson governance moved to sanction a minimum SEK 500 million (€47 million) bond placement, led by Scandinavian investment banks Nordea and Swedbank acting as joint book-runners.
“There has been a strong interest from a broad range of investors in the issue, which was heavily oversubscribed. We are also happy to see that the interest from large institutional investors throughout the Nordics has been much stronger than back in 2016 when issuing our first bond. It shows that we have the market’s support in our long-term strategy,” said Betsson chief financial officer Martin Öhman.
The bonds, placed under a framework of SEK2.5bn, have a tenor of three years and will mature on 26 September, 2022.
Funds from the transaction are expected to be utilized to support Betsson’s ongoing expansion initiatives.
