Latest News

LEOVEGAS INVESTIGATES THE POSSIBILITY TO ISSUE SUBSEQUENT UNSECURED BONDS

Published

4 years ago

September 3, 2021

George Miller

LEOVEGAS INVESTIGATES THE POSSIBILITY TO ISSUE SUBSEQUENT UNSECURED BONDS

Reading Time: < 1 minute

LeoVegas AB (publ) (“LeoVegas”) successfully issued senior unsecured bonds of SEK 500m in 2020 under a framework of up to SEK 800m with ISIN SE0015242854. LeoVegas has now mandated Swedbank to investigate the possibility of increasing the amount of senior unsecured bonds outstanding with a minimum size of SEK 100m.

The proceeds from the potential subsequent bond issue will contribute to an optimal capital structure and increased financial flexibility.

LEVERAGE TARGET REAFFIRMED
In conjunction with the initial issue of senior unsecured bonds during 2020, the Company published that the leverage ratio (net debt to adjusted EBITDA) shall not, over the long term, exceed 1.0x. This leverage target is reaffirmed and the Company continues to be below the leverage target with good headroom with a leverage ratio of 0.2x as of 30 June 2021. However, LeoVegas may, under certain circumstances, choose to exceed this level during short time periods in connection with, for instance, larger acquisitions or other strategic initiatives.

Related Topics:LeoVegas

Up Next

Nolimit City celebrates Italy premier launch with Betflag.it

Don't Miss

Future Anthem launches industry-first AI product to optimise casino game performance and design

George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.