By Paul A. Harris
Portland, Ore., Sept. 13 – Gamenet Group SpA priced a €225 million issue of Euribor plus 512.5 basis points senior secured floating-rate notes due April 2023 (B1/B+) at par on Thursday, according to a market source.
The spread came tight to the 525 bps spread talk.
UniCredit, Nomura, Credit Suisse and Intermonte SIM managed the sale.
The Rome-based online gaming company plans to use the proceeds to finance part of its acquisition of 100% of the share capital of GoldBet Srl, which is also a gaming and betting company based in Italy, for €265 million.
| Issuer: | Gamenet Group SpA
|
| Amount: | €225 million
|
| Maturity: | April 2023
|
| Securities: | Senior secured floating-rate notes
|
| Managers: | UniCredit, Nomura, Credit Suisse, Intermonte SIM
|
| Coupon: | Euribor plus 512.5 bps
|
| Price: | Par
|
| Yield: | Euribor plus 512.5 bps
|
| Call protection: | One year
|
| Trade date: | Sept. 13
|
| Ratings: | Moody's: B1
|
| S&P: B+
|
| Price talk: | Euribor plus 525 bps
|
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