EQS-News

DEAG Deutsche Entertainment Aktiengesellschaft: Corporate Bond 2023/2026 with a volume of EUR 50 million successfully placed in full – issuance significantly oversubscribed

EQS-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Issue of Debt DEAG Deutsche Entertainment Aktiengesellschaft: Corporate Bond 2023/2026 with a volume of EUR 50 million successfully placed in full – issuance significantly oversubscribed 26.06.2023 / 14:32 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

DEAG: Corporate Bond 2023/2026 with a volume of EUR 50 million successfully placed in full – issuance significantly oversubscribed

• Early closure of the offer due to high demand
• Proceeds to be used to implement the company’s dynamic organic and inorganic growth strategy and to refinance the Bond 2018/2023

 

Berlin, 26 June 2023 – DEAG Deutsche Entertainment Aktiengesellschaft (“DEAG”) has successfully completed the placement of its Corporate Bond 2023/2026 (ISIN NO0012487596) with an issue volume of EUR 50 million. The issue was oversubscribed by a significant margin and the offering was accordingly terminated early today. The annual fixed interest rate was set at 8.00% during the book building process. DEAG considers the positive feedback by capital markets as validation of its strategy to continue the Company’s dynamic organic and inorganic growth course. In addition, the proceeds from the issue will be used to refinance the Corporate Bond 2018/2023.

DEAG Deutsche Entertainment AG’s offering consisted of an exchange offer including a multiple purchase option to the creditors of the Corporate Bond 2018/2023 (ISIN DE000A2NBF25), a public offering via subscription through Deutsche Börse and a private placement. The high demand for DEAG’s Corporate Bond 2023/2026 was driven by institutional and private investors alike from Germany, Europe and overseas. The volume tendered for exchange amounts to around 30% of the outstanding bond and will be allocated at approx. 65%.

DEAG manages an attractive national and international M&A pipeline and has advanced conversations with multiple targets of which some might conclude already in the second half of 2023. A focus area of potential acquisitions will be to further strengthen DEAG’s ticketing activities and the further expansion into new European markets. DEAG will also continue to drive the development of its own event formats which benefit from higher than average margin such as the Christmas Garden and its festival portfolio across music genres. For the full year 2023, Group revenue is expected to exceed again EUR 300 million with a further improvement in EBITDA (2022: approx. EUR 31 million).