By Paul A. Harris
Portland, Ore., June 9 – Media and Games Invest SE priced a €175 million issue of three-month Euribor plus 625 basis points four-year secured floating-rate bonds at 98 on Thursday, according to market sources.
The deal size came at the high end of the €125 million to €175 million announced range.
The transaction was well received, with strong demand from primarily institutional investors based in the Nordics, continental Europe, North America and Asia, the company stated in a press release.
Pareto Securities was the lead.
The Valetta, Malta-based online games publisher plans to use the proceeds as additional capital for potential merger and acquisition opportunities and to diversify maturities of its outstanding senior secured bonds.
In connection with the new issue the company offered a partial buyback to the holders of its outstanding senior secured floating-rate bonds due Nov. 27, 2024.
The size of the buyback was €115 million, the company said.
| Issuer: | Media and Games Invest SE
|
| Amount: | €175 million
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| Issue: | Senior secured floating-rate bonds
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| Tenor: | Four years
|
| Bookrunner: | Pareto Securities
|
| Coupon: | Three-month Euribor plus 625 bps
|
| Euribor floor: | 0%
|
| Price: | 98
|
| Trade date: | June 9
|
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