Approved bond prospectus
13 June 2022
On 8 February 2022, Gaming Innovation Group Plc. issued senior secured callable floating rate bonds in an amount of SEK 100 million under its existing framework of up to SEK 550 million senior secured callable bonds due 2024 (ISIN: NO 0011017097) (the “Subsequent Bonds”). For the purpose of the listing of the Subsequent Bonds, the Company has prepared a prospectus that was approved by the Swedish Financial Supervisory Authority (Sw: Finansinspektionen) on 13 June 2022. The prospectus is available below. Admission to trading of the Subsequent Bonds on Nasdaq Stockholm is expected to take place on or about 15 June 2022.
Written resolution
21 January 2022
Nordic Trustee AS (the “Trustee”) sent a notice of written resolution (the “Notice”) to the holders of Gaming Innovation Group Plc’s bond 2021/2024 with ISIN NO0011017097 on 7 January 2022. In GiG’s press release on 22 December 2021 at 08.00 CET, the signing of a share purchase agreement to acquire iGaming company Sportnco Gaming SAS was announced. In the statement, it was mentioned that the acquisition requires the bond terms for GiG’s Bond to allow for roll over of the current long-term loans in Sportnco Gaming. The proposed resolutions were adopted with the requisite majority on 21 January 2022, see notice from Nordic Trustee AS.
General information
Core values which form the base for the financial strategy and a sustainable business:
- Strict cost control
- Reduction of debt
- Conservative approach to amortisation on acquired affiliates and capitalised expenses
- Reducing non-marketing related OPEX to achieve bottom-line earning
In addition to a solid operating cash flow, external funding is facilitating acquisitions of affiliate markets, paying off existing working capital facilities and for general corporation purposes.
The funding strategy is built on the following principles:
- Funding is primarily raised by the parent company Gaming Innovation Group Plc.
- Type: senior secured funding
- Other funding types: diversified funding sources, EMTN program, SEC registered program, bilateral loans and bank funding
- Bank capacity is primarily allocated towards back-up facilities, local funding and trade related products
