Gaming Innovation Group Plc. has successfully completed the issuance of a new SEK400 million senior secured bond with a SEK1,000 million borrowing limit. SEK350 million of the net proceeds will be used to refinance part of the existing SEK650 million GIGLTD01 bond, with the balance used to pay down the parent Company's (Gaming Innovation Group Inc.) working capital facility.
Settlement is expected on 28 June 2019 with final maturity on 28 June 2022. The bond has a floating coupon of 3 months STIBOR + 9% per annum. An application will be made for the bond to be listed on Nasdaq Stockholm. The new bond will be conditional upon certain amendments in GIGLTD01 to amongst other, allow the new bond to share the security on a pari passu basis. The Company will summon for a written resolution to effectuate the amendments.
Robin Reed, CEO of GiG says: "I am pleased we have issued a new bond which will increase our capacity and flexibility for growth opportunities. At the same time, this will further strengthen the longer-term financing of the business."
ABG Sundal Collier ASA and Pareto Securities acted as joint managers and bookrunners in connection with placement of the new bond issue and the written resolution.
For further information, please contact:
CEO of GiG, firstname.lastname@example.org+356 999 903 82
Group CFO of GiG, email@example.com
Anna-Lena Åström, GiG Head of IR & Corporate Communications, firstname.lastname@example.org+356 796 998 48
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, at 18:20 CEST on 14 June 2019.
About Gaming Innovation Group (GiG)
Gaming Innovation Group Inc. is a technology company providing products and services throughout the entire value chain in the iGaming industry. Founded in 2012, Gaming Innovation Group's vision is `To open up iGaming and make it fair and fun for all'. Through its ecosystem of products and services, it is connecting operators, suppliers and users, to create the best iGaming experiences in the world. GiG operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
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