GIG strengthens M&A growth strategy with SEK 400 million bond issuance

Robin Reed, Gaming Innovation Group

Further to yesterday’s announcement that Oslo-listed Gaming Innovation Group will enter the UK betting market launching its Nordic flagship betting brands and Super Lenny.

GIG governance has further detailed that the firm has secured a Nordic bond issuance of SEK 400 million (£35 million), which it will use to further exploit its ongoing M&A growth strategy.

The Malta-based operator detailed that its bond issue had been ‘significantly oversubscribed’ with strong demand from a number of Nordic investors. The company has been further granted an SEK 1,250 million ‘borrowing cap’ for its acquisition initiatives. 

Bond settlement is expected to be 6 March 2017, with final maturity 6 March 2020. The bond issue has a fixed coupon of 7.0% p.a. GIG governance will make an application for the bonds to be listed on Oslo Stock Exchange.

Updating investors and corporate stakeholders GIG Group CEO Robin Reed commented on the Nordic bond Issuance

“Our vision is to interconnect the operators and suppliers of the iGaming industry in an eco-system. The proceeds from this bond placement will allow us to acquire and invest into marketing businesses and distribution channels. This will greatly increase our traffic driving capability to our rapidly expanding eco-system. More volumes will benefit all the stakeholders with advantages of scale.”

ABG Sundal Collier ASA acted as sole manager in connection with the placement of the new bond issue.


Check Also

Winning Post: US tribes scrabble for market advantage

Regulus Partners observes that US wagering’s heritage stakeholders are playing unsustainable word games to maintain …


W2 releases first real time affordability solution for UK operators

W2 has launched a new real-time affordability check solution to support the needs of operators …


Money and rights section added to UKGC website

The UK Gambling Commission (UKGC) has launched a new dedicated section on its website, informing …