Stillfront Group AB: Stillfront issues 600 MSEK in 4-year senior unsecured bonds

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL

PRESS RELEASE 

November 13, 2018

Stillfront issues 600 MSEK in 4-year senior unsecured bonds and notifies existing holders of its outstanding 500 MSEK senior secured bond loan of the specific date of early redemption

Stillfront Group AB (publ) ("Stillfront" or the "Company") has successfully placed 600 MSEK in senior unsecured bonds under a new bond framework of up to 1,000 MSEK senior unsecured bond loan due 2022 (the "2022 Bonds"). The proceeds from the bond issue will be used for early redemption of the Company's outstanding 500 MSEK 2017/2020 senior secured bond loan due 2020 (the "2020 Bonds") and for general corporate purposes. The Company has also agreed terms on bank facilities in the amount of 600 MSEK.

The interest rate for the new bond loan was set to Stibor 3m + 500bps and the terms include several beneficial changes as compared to the Company's outstanding bond loan, including release of security, more flexible terms for bank financing and permission for dividends in line with the Company's financial policy. The bonds were placed with Nordic institutional and private investors. Further to the press release dated 29 October 2018, the Company has also today notified holders of the 2020 Bonds of the specific Redemption Date and Record Date relating to the early redemption of the 2020 Bonds. As such, the Company hereby declares that the conditions for early redemption of its 2020 Bonds have been fulfilled.

In conjunction with the issuance of the 2022 Bonds, the Company has also agreed terms for a bank facility package comprised of a 100 MSEK 1-year overdraft facility and a 500 MSEK 3-year revolving credit facility.

"We are very pleased to have secured a new debt financing package with favourable terms which provides flexible and attractive financing to support and strengthen our organic as well as acquisitive growth agenda", says Jörgen Larsson, CEO.

In conjunction with the issue of the 2022 Bonds, Carnegie Investment Bank, SEB and Swedbank acted as joint bookrunners, White & Case acted as legal adviser to the joint bookrunners and DLA Piper acted as legal adviser to the Company.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jörgen Larsson, CEO
Phone: +46 703 211 800
jorgen@stillfront.com

Sten Wranne, CFO
Phone: +46 705 851 258
sten@stillfront.com

ABOUT STILLFRONT

Stillfront is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through ten near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States, Babil Games in UAE and Jordan, eRepublik in Ireland and Romania, OFM Studios in Germany, Goodgame Studios in Germany and Imperia Online, Bulgaria. Stillfront's games are distributed globally. The main markets are Germany, the United States, France, UK and MENA. For further information, please visit www.stillfront.com.

SELECTED GAMES

Stillfront's portfolio includes games across multiple platforms. Unravel and Unravel Two are widely acclaimed console games developed by Coldwood in collaboration with Electronic Arts. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Siege: Titan Wars (TM) is a popular mobile game developed by Simutronics. Nida Harb III and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games. World at War: WW2 and War and Peace: Civil War are successful mobile strategy games developed and published by eRepublik Labs. Online Fussball Manager is a leading sports management game. EMPIRE and BIG FARM are major brands operated by Goodgame Studios. Imperia Online, is a MMO strategy game published on both browser and mobile platforms by Imperia Online.

Nasdaq First North Ticker Symbol: SF
Certified Adviser: FNCA, phone +46 8 528 00 399

This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 17.05 CET on November 13, 2018.

IMPORTANT INFORMATION

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED
STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW
ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OR PUBLICATION OF THIS
PRESS RELEASE WOULD BE UNLAWFUL.

This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, Switzerland, South Africa or New Zealand or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States or any other jurisdiction. Any securities that may be issued in connection with the transactions referred to in this announcement will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly will not be offered or sold in the United States.

This announcement is not a prospectus for the purposes of Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive").

Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Stillfront Group AB (publ) believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice.