LeoVegas Secures Long-term & Diversified Financing

LeoVegas Secures Long-term & Diversified Financing

LeoVegas has today announced that it has secured long term and diversified financing by issuing a senior unsecured bond of SEK 500m (approximately €50 million).

The bond has been issued under a ‘framework’ of SEK 800m (around €78 million) and have a tenor of three years.

It is reported that the gaming corporation is intending to apply to list the bonds on the Nasdaq Stockholm Corporate Bond List and proceeds will be utilised for corporate expansion, along with refinancing existing debt and potentional growth with future acquisitions.

In addition to the bond issuing, LeoVegas entered in to a €40 million revolving credit facility agreement over a period of three years.

SEB and Swedbank acted as arrangers and joint bookrunners and Gernandt & Danielsson acted as legal advisor for the transaction.

This transaction has been completed to secure the long term financing of the company and has already received a positive response in regards to the bond market with highlights standing out, including strong cash flow and the prospect of growth.

Despite the unprecedented times surrounding the global Covid-19 pandemic, LeoVegas is in a strong position financially and is continuing its ambitions to deliver expansion and growth consistently as part of a organic strategy.

Positive Response

CEO of the LeoVegas Group Gustaf Hagman spoke out about the news and what it means for the firm moving forward in to the new year:

“LeoVegas has secured a long-term and diversified financing with a combination of bank- and bond loans.

We are pleased with the positive response that LeoVegas received from the bond market, appreciating LeoVegas’ strong cash flows and growth prospects.

Together with a strong balance sheet, LeoVegas has a stable financial position, which gives us excellent conditions to continue delivering on our expansion strategy – focusing on organic expansion as well as strategic and complementary acquisitions.”


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