Betsson considers issuance of new senior unsecured bonds and announces tender offer for its outstanding 2019/2022 bonds

Press Release Betsson AB (publ)

BETSSON considers ISSUance OF NEW SENIOR UNSECURED BONDS AND ANNOUNCES TENDER OFFER for ITS OUTSTANDING 2019/2022 BONDS

2022-06-08

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) (THE "SECURITIES ACT") OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.

Betsson AB (publ) (“Betsson” or the “Company”) has mandated Nordea as sole bookrunner to arrange credit investor meetings commencing on 9 June 2022 to investigate the possibility to issue new EUR denominated senior unsecured bonds (the “New Bonds”). A capital markets transaction will follow, subject to market conditions.

In connection with the issue of the New Bonds, Betsson is offering holders of the Company’s outstanding senior unsecured floating rate bonds maturing on 26 September 2022 with ISIN SE0013110814 and outstanding amount of SEK 1,000,000,000 (the “Bonds”) to tender Bonds for purchase by the Company for cash up to the total nominal amount of New Bonds issued (the “Tender Offer”) at a price of 100.50% of the nominal amount. The Bonds will be repurchased subject to the terms and conditions in the tender information document dated 8 June 2022 (the “Tender Information Document”) and the repurchase of Bonds is conditional upon a successful issue of New Bonds.

Holders of the Bonds who validly tender their Bonds will be eligible to receive priority in the allocation of the New Bonds subject to the terms set out in the Tender Information Document. Holders of Bonds who subscribes for New Bonds may accordingly receive priority in the Tender Offer.

The Tender Information Document can be found on the Company’s website via the following link: www.betssonab.com.

The Tender Offer expires upon book close of the book building process for the New Bonds, unless extended, re-opened, withdrawn or terminated at the sole discretion of the Company (the “Expiration Date”). The Expiration Date will be announced as soon as practically possible after the book building process for the New Notes has opened. Settlement of the Tender Offer is expected to occur approximately five business days after the Expiration Date and to the extent possible on the same day as the settlement of the New Bonds.

The terms and conditions of the Bonds will continue to be in effect for bondholders who do not participate in the Tender Offer, or whose Bonds are not accepted for repurchase by the Company. However, conditional upon the consummation of an issue of the New Bonds in a minimum amount of SEK 1,000,000,000, from 26 June 2022 Betsson intends to exercise its right to make a voluntary total redemption of the Bonds not being tendered in the Tender Offer, in accordance with the terms & conditions in respect of the Bonds. The Bonds will upon a voluntary total redemption be redeemed at a price equal to 100.00% of the nominal amount (plus accrued but unpaid interest).

The Company has appointed Nordea to act as sole bookrunner in connection with the issue of the New Bonds and dealer manager in the Tender Offer. Gernandt & Danielsson has been appointed as legal counsel.

Dealer manager:

Nordea Bank Abp:
+45 6136 0379, NordeaLiabilityManagement@nordea.com

For further information, please contact:

Martin Öhman, CFO Betsson AB
martin.ohman@betssonab.com

This information is information that Betsson AB (publ) is obliged to make public pursuant to the Securities Markets Act (Sw. lagen (2007:528) om värdepappersmarknaden). The information was submitted for publication, through the agency of the contact person set out above, on 8 June 2022, 08.30 CEST. 

About Betsson AB
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm (BETS B).