Betsson to raise €90m from bond issue

Betsson, Swedish igaming business and sports book, issued bonds worth €90m, under a three-year contract that will mature in June 2025.

The framework would allow up to a total of €250m to be eventually issued.

While Betsson did not say what the money will be used for, it comes as the business looks to expand in newly regulated North American markets. The operator launched its Betsafe brand in Colorado in April.

The interest rate for the bonds is set at 6.5% plus three months of the standard EU inter-bank rate (EURIBOR), a common interest rate standard.

Betsson chief financial officer Martin Öhman said on the issuance: “I’m pleased to see the large interest for our new bond from a broad range of investors, including Nordic and international institutions. This signals confidence in our business strategy, which continues to generate profitable growth and stable cash flows.”

Betsson also announced the results of its tender offer to the holders of the company’s outstanding bonds, totaling SEK 1bn (£79m/$97m/€93m) which are set to mature on 26 September. The offer expires on 15 June 2022 – and will amount to 100.5% of the nominal value per bond as well as the accrued and unpaid interest.

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Author: Raymond Fleming