DGAP-Adhoc

Media and Games Invest; successfully places EUR 80 million of senior secured bonds at a coupon of 3 months Euribor plus 5.75 per cent

DGAP-Ad-hoc: Media and Games Invest plc / Key word(s): Bond/Issue of Debt Media and Games Invest; successfully places EUR 80 million of senior secured bonds at a coupon of 3 months Euribor plus 5.75 per cent 13-Nov-2020 / 17:23 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Disclosure of inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Media and Games Invest successfully places EUR 80 million of senior secured bonds at a coupon of 3 months Euribor plus 5.75 per cent
 

• Successful bond placement of EUR 80 million (Coupon 3mE+5.75%)
• Repayment of the existing EUR 50 million gamigo AG bond (Coupon 3mE+7.75%)
• Interest savings in the amount of 2.00 per cent

 

Hamburg 13 November 2020 - Media and Games Invest plc ("MGI" or the "Company", ISIN: MT0000580101; Ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) has successfully placed EUR 80 million of senior secured bonds following a bookbuilding process to qualified investors in the Nordics and continental Europe. The placement was made at a coupon of 3 months Euribor plus 5.75 per cent per annum and a tenure of four years.

The interest rate is 2.00 per cent below the interest rate for the existing EUR 50 million bond of gamigo AG (the "Existing Bond"). Part of the net proceeds will consequently be used to redeem the Existing Bond (ISIN: SE0011614445) maturing in October 2022. The remaining part of the net proceeds will be used for general corporate purposes of the group (including investments for organic growth, capital expenditures and acquisitions).

The transaction was well received among investors across the nordics and continental Europe, with participation in the placement from existing as well as new investors. Due to strong investor demand, the invested volume amounted to EUR 80 million.

Notice of redemption of the Existing Bond is expected to be sent to bondholders on 16 November 2020 through Nordic Trustee but has been published by gamigo AG today. The Existing Bond will be called for redemption in accordance with the terms and conditions at a price of 103.875 per cent of the nominal amount plus accrued but unpaid interest and will be redeemed on 10 December 2020.