Connect with us

News

Catena Media plc promulgates the early redemption of existing bonds

Published

on

Reading Time: 3 minutes

Catena Media plc, a performance marketing company released a notification that states that it will redeem in full its outstanding bonds 2016/2019 with ISIN SE0008964720 (the “Existing Bonds”).With the early redemption date set to March 16, 2018.

Clinging to the terms and conditions of the Existing Bonds, all Existing Bonds will be redeemed at the redemption price of 103.38 per cent. of the nominal amount (i.e. EUR 103,380 per Existing Bond). Any accrued and unpaid interest will also be paid in respect of the Existing Bonds in accordance with the terms and conditions of the Existing Bonds.

Each person registered as the owner of Existing Bonds in the debt register maintained by Euroclear Sweden will be paid the redemption amount at the end of business on March 9, 2018. With regard to the redemption, the Existing Bonds will be delisted from Nasdaq Stockholm.

A notice of early redemption is sent directly to registered owners and registered authorised nominees (Sw. förvaltare) of the Existing Bonds as of February 16, 2018, in the debt register.

This announcement is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of Catena Media.

About Catena Media

Catena Media plc is an online performance marketing company that has established a leading position through strong organic growth and acquisitions. The business was started in 2012 and the group had 282 employees by the end of 2017 in the US, Australia, Japan, Serbia, UK, and Malta, where the Head Office is situated. In 2017, revenues reached EUR 67,6 million. The company is listed on Nasdaq Stockholm Mid Cap.

Further information is available at www.catenamedia.com.

Catena Media plc (“Catena Media” or “the Group”) has successfully placed EUR 150 million senior unsecured bonds due 2021 (the “New Bonds”) under a framework of EUR 250 million (the “New bond Loan”). The interest rate for the New Bonds is Euribor 3m + 5.50 percent, with a Euribor floor at 0. Catena Media intends to list the New Bonds on Nasdaq Stockholm.

The proceeds from the transaction will be used to refinance Catena Media’s existing EUR 100 million outstanding bonds with ISIN SE0008964720 maturing in September 2019 (the “Existing Bonds”) and for general corporate purposes, including acquisitions.

Through the issue of the New Bond Loan, the Company secures multiple financial benefits compared to the Existing Bonds including i.a.:

Reduced interest rate margin, from 6.75% to 5.50%

Increased framework amount, from EUR 100 million to EUR 250 million

Release of security, which security can be utilized for other sources of financing

Increased permission for additional debt, including bank debt, from approximately EUR 3 million to the higher of EUR 30 million or 75% of the Group’s EBITDA

Henrik Persson Ekdahl, the Acting CEO said:  “We are very pleased with the great interest that has been shown from investors to participate in this transaction, both from our existing bondholders rolling over to the New Bonds as well as from new investors. The New Bonds provide us with a lower cost of financing as well as increased flexibility for additional financing, which we consider as an important step in our continued development. With this, we have enhanced our capacity to continue on our strategic path and to be a leading player in the ongoing consolidation of the affiliate market space.”

Further information regarding the redemption of the Existing Bonds will be announced by Catena Media in a separate press release.

Carnegie and Danske Bank acted as Joint Bookrunners to Catena Media in connection with the transaction and Gernandt & Danielsson acted as legal advisor.

For further information, please contact:

Henrik Persson Ekdahl, Acting CEO, Catena Media Plc
Phone: +46 706 91 43 43, E-mail: henrik.persson@catenamedia.com

Åsa Hillsten, Head of IR & Communications, Catena Media Plc
Phone: +46 700 81 81 17, E-mail: asa.hillsten@catenamedia.com

This information is the affirmation that Catena Media plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons above, on February 16th, 2018 at 15:30 CET.

 


Source: European Gaming Media and Events

News

Swiss Casinos forges partnership with Playtech for online launch

Published

on

Swiss Casinos forges partnership with Playtech for online launchReading Time: 1 minute

 

Swiss Casinos, a major land-based casino operator in Switzerland, has signed a partnership with Playtech, the premier gaming software development company based in Isle of Man, for the launch of its online casinos.

The move is significant as the Swiss market will host iGaming for the first time from January 2019.

According to the newly passed Swiss legislation, only the land-based casino operators in the country will be eligible for the licence to run iGaming facility through their online channel from January.

“We are extremely excited to have found an internationally experienced and innovative partner in Playtech,” Swiss Casinos Group chief executive Marc Baumann said. “We will now be able to offer our customers in Switzerland an attractive iGaming offering.”

Playtech chief operating officer Shimon Akad added that his company was pleased to have partnered Switzerland’s leading casino brand.

“Playtech has a long history of success in cooperation with leading brands in the world’s most important gambling markets, and we are looking forward to a long and successful partnership with Swiss Casinos,” he said.


Source: European Gaming Media

Continue Reading

News

UK may implement cut of FOBT maximum stakes earlier than announced

Published

on

UK may implement cut of FOBT maximum stakes earlier than announcedReading Time: 1 minute

 

The British culture minister Jeremy Wright said the government is planning to prepone the implementation of the planned reduction of the maximum stake on fixed-odds betting terminals (FOBTs). Earlier, the date of implementation was October 2019. It could be proposed by six months to April 2019.

It is a real twist in the tale, following the resignation of sports minister Tracey Crouch, who blamed the government of delaying to October the planned the reduction of maximum stake from 100 pounds to just two pounds.

The government had been staring at a possible defeat on its budget legislation in parliament, as many legislators from the governing Conservatives backed an amendment which would have forced them to bring forward the timing of the cut.

Wright said the implementation of the proposed rise in Remote Gaming Duty, paid by online gaming operators, could also be preponed to April to cover the negative impact on the public finances.


Source: European Gaming Media

Continue Reading

News

SportCaller launches all-new £1m ‘Jungle Jackpot‘ game with Lottoland for new series of hit show

Published

on

SportCaller launches all-new £1m ‘Jungle Jackpot‘ game with Lottoland for new series of hit showReading Time: 3 minutes

 

FTP specialist releases £1m Jungle Jackpot, an innovative new free-to-play game with Lottoland, to connect with a fresh mainstream audience


SportCaller, the free-to-play (FTP) game specialist, has broken new ground by partnering with leading bet-on-lotteries operator Lottoland for the launch of Jungle Jackpot, another fresh concept in its ever-expanding portfolio of products and clients.

The £1m jackpot FTP game is set to roll out for the upcoming series of ‘I’m a Celebrity…Get Me Out of Here!’, hosted by Declan Donnelly and Holly Willoughby.

Jungle Jackpot offers players the opportunity to win £1m if they can correctly forecast the final placings of the celebrities in the smash-hit ITV programme, by predicting the order in which they will leave the jungle. A secondary daily prediction game, once the evictions start, will also provide players with the chance to win smaller rewards and cash prizes, based on their following of the show and what’s happening day-to-day in the camp.

The main jackpot will see Lottoland partner with some of the UK’s biggest digital properties to promote the game and reach a broad and highly social target audience, opening up the opportunity to introduce them to the value and innovation provided across Lottoland’s lottery betting and wider gaming products.

Having cornered the market for free-to-play sporting games, SportCaller MD Cillian Barry said the launch was the provider’s first foray into mass-media events in order to engage a new and truly mainstream audience.

Barry noted: “It’s a real coup to be collaborating with Lottoland on a jackpot product which speaks to a broader demographic, over and above the sports betting community that is our usual focus. Our combined ability to deliver presents a genuine test case for FTP flourishing outside its original sporting-betting domain by bringing to market a game that will appeal to the wider general public. Jungle Jackpot is a genuine industry-first for such a popular TV show.”

“Novelty betting has been around for years with Paddy Power et al, but this game is now redefining novelty appeal for non-gambling-focussed users. Jungle Jackpot sets a new standard for the next generation of online media consumers – it’s fun, fast, accessible and instantly immersive. In a typically standardised market for sign-up promotions and bonuses, SportCaller offers a third way to market. With our jackpot prediction games, we empower operators and media owners by converting traffic into transactional customer accounts, delivering trackable levels of increased player-activity and loyalty, which means clear, measurable payback.”

Nigel Birrell, CEO for Lottoland added: “The ability of SportCaller’s games to organically harness player engagement around sports events made them the perfect fit for this partnership. We’ve no doubt Jungle Jackpot will provide a real and immediate boost to both our acquisition and the cross-selling of Lottoland’s array of popular products.

“The social elements of this game can also deliver significant potential for growth. The main £1m Jungle Jackpot game gives every adult fan of the show the chance to win a lottery-level prize from a simple prediction mechanic. After all, who doesn’t have an opinion on what will happen each year when this rag-tag group of celebs heads into the jungle? The daily prediction games also represent a very accessible way to make a prediction on who will leave the jungle next, giving viewers a chance to test their opinions for rewards, and ultimately a share of a £10,000 cash prize, if proving to be the ultimate jungle judge!”

All games are fully compliant with global regulations, and are available across mobile and desktop channels on http://junglejackpot.sportcallerI’m a Celebrity…Get Me Out of Here!.com. The Jungle Jackpot microsite hosting the games is geolocated to UK & Ireland players only, via SportCaller’s geo-restricting tech.


Source: European Gaming Media

Continue Reading

Trending