Stockholm Nasdaq-listed industry affiliate marketing network Catena Media has informed the market that it is reviewing funding options for its ongoing M&A strategy which the firm has executed throughout 2016 and 2017.
Issuing a short corporate communication, Catena governance has informed that it may action a ‘tap issue’ to release €50 million funds from its secured maximum €100 million bond. The secured bond financing has interest payments attached from 2019 onwards.
Catena one of the industry’s biggest affiliate marketing networks which floated on the Nasdaq OMX (Stockholm) in February 2016 has been advised on its funding options by Swedbank and Carnegie Sweden.
In 2017, Catena has executed a number of industry affiliate transactions, seeking to boost its network capabilities within its core Scandinavian market (Catena Media acquisitions to date).
Robert Andersson, CEO at Catena Media commented on the update:
“The consolidation in the affiliate market is increasing and Catena Media wants to take a leading role in that development. We are currently looking into a number of possible acquisitions that would complement and strengthen our portfolio. A potential tap issue would further strengthen our growth journey”