NENT Group closes SEK 1.5 billion bond issue
Nordic Entertainment Group AB (publ) (NENT Group) has raised SEK 1.5 billion by issuing 3 and 5 year senior unsecured bonds to approximately 25 Swedish and Nordic investors. The issue is NENT Group’s first since it listed on Nasdaq Stockholm at the end of March and was oversubscribed.
The issue has been made within the framework of NENT Group’s newly established SEK 4 billion MTN programme, and comprised SEK 800 million of notes with a floating interest rate of STIBOR 3m + 95 basis points and maturing on 23 May 2022, and SEK 700 million of notes with a floating interest rate of STIBOR 3m + 140 basis points and maturing on 23 May 2024. The proceeds will be used to refinance existing loans and for general corporate purposes.
Swedbank, DNB and Nordea have advised NENT Group on the issue.
Gabriel Catrina, NENT Group Chief Financial Officer: “The level of interest in this bond issue demonstrates the confidence of the markets in NENT Group, our performance and potential as the Nordic region’s leading entertainment company. We have attracted a wide range of high quality investors and now have a well-balanced and flexible combination of facilities that will efficiently fund NENT Group moving forward.”
NOTES TO EDITORS
Nordic Entertainment Group AB (publ) (NENT Group) is the Nordic region’s leading entertainment provider. We entertain millions of people every day with our streaming services, TV channels and radio stations, and our production companies create content that is experienced around the world. We make life more entertaining by telling stories, touching lives and expanding worlds – from live sports, movies and series to music and original shows. Headquartered in Stockholm, NENT Group is listed on Nasdaq Stockholm (‘NENT A’ and ‘NENT B’).
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