AMSTERDAM - 14 September 2023 – Azerion Group N.V. (the “Company”) has, following a bookbuilding process, successfully placed EUR 165 million of senior secured floating rate bonds under a framework of EUR 300 million to qualified institutional investors internationally (the “New Bonds”). The New Bonds will have a 3-year tenor, will carry a floating rate coupon of 3 months EURIBOR plus 6.75 per cent per annum and were issued at 98.5 per cent of par.
Proceeds from the New Bonds in combination with current cash holdings of the Company will be used to fully redeem the Company’s outstanding EUR 200 million senior secured fixed rate bonds (ISIN SE0015837794) (the “Existing Bonds”) and to finance general corporate purposes of the Company, including capital expenditure and transaction costs.
Ben Davey, CFO Azerion: “We are delighted with the successful placement of the New Bonds and the strong support we have received from existing and new bond investors across the Nordics, Europe and the U.S. Achieving this target milestone strengthens our balance sheet and at the same time supports our continued focus on growing our Platform and the execution of our consolidation and integration strategy.”
Notice of redemption of the Existing Bonds is expected to be sent to bondholders on 15 September 2023 for redemption on 30 October 2023 at a price of 100.725 per cent of the nominal amount plus accrued unpaid interest in accordance with the terms and conditions of the Existing Bonds.
Settlement of the New Bonds is expected to take place on 2 October 2023 (the "First Issue Date"). The Company shall use its best efforts to ensure that the New Bonds will be listed on a Regulated Market within 60 days (with an intention to complete such listing within 30 days) and on Frankfurt Stock Exchange Open Market as soon as practically possible after the First Issue Date.
- Baca Juga All Resolutions Approved at EGM
Pareto Securities AB acted as Sole Bookrunner and Roschier Advokatbyrå acted as legal advisor in connection with the bond issue.
Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe’s largest digital advertising and entertainment media platforms. We bring global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners. Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 26 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.