Gaming Innovation Group issues a new SEK400m senior secured bond
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.