Amsterdam-based Azerion announced a successful subsequent bond issue of €50M under its existing senior secured floating rate bond framework of €300M. The funds will be used for general corporate purposes like acquisitions and capital expenditure.
The offering attracted high demand from institutional investors in Nordic markets, Europe, and the U.S., priced at 100.75 per cent of par. Settlement is expected around 5th July 2024.
CFO Ben Davey expressed delight in the support from bond investors, emphasizing the proceeds' role in advancing Azerion's platform growth and strategic execution.
Azerion, founded in 2014, focuses on digital advertising and entertainment, offering technology solutions for media buyers and sellers through its platform.
The company generates revenue from advertising spend on its platform and in-game purchases from premium games, constituting approximately 22% of its 2020 revenue.
This bond issuance follows an investigation launched by AFM regarding irregularities in Azerion share trading a few months earlier.
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