STOCKHOLM, Nov. 27, 2020 /PRNewswire/ — LeoVegas AB (publ) (“LeoVegas”) has mandated SEB and Swedbank as joint bookrunners to rearrange investor conferences commencing on 30 November 2020 to discover the circumstances to difficulty a senior unsecured bond with an anticipated quantity of SEK 500m, inside a framework of SEK 1,200m with a tenor of three years. Topic to market circumstances, a capital markets transaction could comply with. The proceeds from the potential bond difficulty can be used to facilitate LeoVegas’ enlargement technique, refinance present debt and for potential acquisitions. Along with the transaction, LeoVegas additionally enters into a brand new three-year revolving credit score facility settlement of EUR 40m.
Monetary targets – leverage goal launched
Along with the transaction, LeoVegas publishes that the leverage ratio (web debt to adjusted EBITDA) shall not, over the long run, exceed 1.0x. Nonetheless, LeoVegas could, below sure circumstances, select to exceed this degree throughout brief time durations in reference to, as an example, bigger acquisitions or different strategic initiatives.
LeoVegas’ present long-term monetary targets are unchanged which embrace:
- Lengthy-term natural development that outperforms the web gaming market
- Lengthy-term EBITDA margin of at the least 15 p.c, below the idea that 100% of the income is generated in regionally regulated markets the place gaming tax is paid
- To pay dividend, over time, of at the least 50 p.c of the revenue after tax
“With this, we guarantee a long-term and steady financing for LeoVegas. We strengthen the corporate’s monetary flexibility and diversify our financing with the mixture of a bond and new financial institution loans. This allows us to proceed to ship on our enlargement technique the place we give attention to regulated markets and markets quickly to turn into regulated. Additional, we constantly consider strategic and complementary acquisitions which will match into the LeoVegas Group”, Gustaf Hagman, Group CEO
This data is such that LeoVegas AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation 596/2014. The knowledge on this press launch has been printed via the company of the contact individuals set out under, on the time acknowledged by LeoVegas AB’s (publ) information distributor Cision, upon publication of this press launch. The individuals indicated under can be contacted for additional data.
for additional data, please contact:
Gustaf Hagman, Group CEO
+46 (0) 8 410 367 66, [email protected]
Stefan Nelson, Group CFO
+356 993 942 68, [email protected]
Philip Doftvik, Director of Investor Relations and Company Finance
+46 73 512 07 20, [email protected]
About leovegas cell gaming group:
LeoVegas imaginative and prescient and place is “King of On line casino”. The worldwide group LeoVegas Cell Gaming Group gives video games on On line casino, Reside On line casino, Bingo and Sport. The dad or mum firm LeoVegas AB (publ.) is positioned in Sweden and its operations are primarily positioned in Malta. The corporate’s shares are listed on Nasdaq Stockholm. www.leovegasgroup.com
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SOURCE LeoVegas Cell Gaming Group