NENT Group closes SEK 800 million bond issue
Nordic Entertainment Group AB (publ) (NENT Group), the Nordic region’s leading streaming company, has raised SEK 800 million by issuing 3 and 5 year unsecured bonds to more than 15 Swedish and Nordic investors. This is the second public issue by NENT Group since the company was listed in March 2019, and the issue was oversubscribed with high levels of investor interest.
The issue has been made within the framework of NENT Group’s established SEK 4 billion MTN programme, and comprised SEK 150 million of notes with a floating interest rate of STIBOR 3m +1.75% and maturing on 26 June 2023, and SEK 650 million of notes with a floating interest rate of STIBOR 3m +2.25% and maturing on 26 June 2025. The proceeds will be used to refinance existing loans and for general corporate purposes.
Danske Bank and SEB advised NENT Group on the issue. The total outstanding value of NENT Group’s bonds is now SEK 3,100 million, with an increased weighting towards long-term maturities.
Gabriel Catrina, NENT Group Chief Financial Officer: “The high levels of interest in this bond issue clearly demonstrate the markets’ confidence in NENT Group and in our performance and potential as the Nordic region’s leading streaming company. We have attracted high-quality investors and 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’).
Download high-resolution photos: Flickr