Novomatic will launch US$558 million on company’s bond.
Austria.- Novomatic announced the development of a financial plan launching a new €500 million –US$558 million– corporate bond. Novomatic’s war chest will allow further opportunities for acquisitions and financial optimisation.
The millionaire bond will be set for seven years and be fixed at 1.625 percent p.a. The corporation decision was published after a successful roadshow for institution investors in London, Frankfurt, Amsterdam and Vienna.
International investors already showed interest in Novomatic’s bond, which has been divided into units of €500, as institutions investors have filled in the order book six times over. Approval has been granted for the bond for trade in the regulated market of the Viennese stock exchange. Joint Lead Managers for this issue are Erste Group Bank AG, Raiffeisen Bank International AG and UniCredit Bank Austria AG.
It is being issued from the recently approved EUR 2 million issuance program by Novomatic AG, which has been provided with the investment grade rating BBB (stable outlook expected) by the international rating agency Standard & Poor’s.
As to Novomatic, the proposal is to invest the revenues from the sale of partial debentures mainly for the ‘optimisation of the financing structure’ and perhaps also for the acquisition of Ainsworth Game Technology.