DGAP-News: Media and Games Invest SE will repay its EUR 25 million bond due 2024 ahead of schedule, which leads to interest savings

2021. szeptember 10., péntek, 11:00







DGAP-News: Media and Games Invest SE


/ Key word(s): Bond






Media and Games Invest SE will repay its EUR 25 million bond due 2024 ahead of schedule, which leads to interest savings








10.09.2021 / 11:00




The issuer is solely responsible for the content of this announcement.




Media and Games Invest SE will repay its EUR 25 million bond due 2024 ahead of schedule, which leads to interest savings



September 10, 2021 - Media and Games Invest SE ("MGI" or the "Company", ISIN: MT0000580101; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) terminates, in accordance with the respective bond terms and subject to the notice period, all outstanding bonds of its EUR 25 million unsecured bond listed in Germany with a term until 2024 and ISIN DE000A2R4KF3 as of the next interest payment date on October 11, 2021.



Following MGI"s strong operating performance, MGI"s cost of capital has also decreased substantially. This is reflected, for example, in the latest increase of the Nordic bond (ISIN: SE0015194527) by EUR 80 million to a total of EUR 350 million at an issue price of 103%, which translates to a yield to maturity of 4.76%, which is far below the 7% nominal interest rate of the German unsecured bond. Part of the proceeds from the increase of the EUR 80 million tap issue of the Swedish secured bond will be used as planned to redeem the EUR 25 million bond at a price of 103% of the nominal amount plus accrued interest until October 10, 2021.



"Our strong operating performance over the past years, with over 70% revenue CAGR and a strong EBITDA growth has also led to substantially lower cost of capital. With the early redemption of the German unsecured bond, we repay a relatively expensive instrument to further optimize our financing costs." says Remco Westermann, CEO & Chairman of the Board of Media and Games Invest SE.



The notice of termination will be published on September 10, 2021 in accordance with section 10 (1) of the bond terms and conditions on the website of Media and Games Invest SE (https://mgi-se.com/investor-relations/) under Investor Relations / Bonds / Media and Games Invest-Bond: 7.000% - October 11, 2024.



Responsible parties



The information in this release has been made public through the agency of the responsible persons set out below for publication at the time stated by MGI"s news distributor EQS Newswire at the publication of this release. The responsible persons below may be contacted for further information.



For further information, please contact:



Sören Barz

Head of Investor Relations

+49 170 376 9571

soeren.barz@mgi-se.com, investor@mgi-se.com

www.mgi-se.com



Jenny Rosberg, ROPA, IR contact Stockholm

+46707472741

Jenny.rosberg@ropa.se



Axel Mühlhaus / Dr. Sönke Knop, edicto GmbH, IR contact Frankfurt

+49 69 9055 05 51

mgi@edicto.de



About Media and Games Invest SE



Media and Games Invest SE is a digital integrated games and media company with main operational presence in Europe and North America. The company combines organic growth with value-generating synergetic acquisitions, demonstrating continuous strong, profitable growth with a revenue CAGR of 78% (2018 - LTM Q2"21). Next to strong organic growth, the MGI Group has successfully acquired more than 30 companies and assets in the past 6 years. The acquired assets and companies are integrated and amongst others cloud technology is actively used to achieve efficiency gains and competitive advantages. The Company"s shares are listed on Nasdaq First North Premier Growth Market in Stockholm and in the Scale segment of the Frankfurt Stock Exchange. The Company has a secured bond that is listed on Nasdaq Stockholm and on the Frankfurt Stock Exchange Open Market as well as an unsecured bond listed on the Frankfurt Stock Exchange Open Market.



The Company"s certified advisor on Nasdaq First North Premier Growth Market is FNCA Sweden AB; info@fnca.se, +46-8-528 00 399.
















10.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Media and Games Invest SE

St. Christopher Street 168

VLT 1467 Valletta

Malta
Phone: +356 21 22 7553
Fax: +356 21 22 7667
E-mail: info@mgi.group
Internet: www.mgi.group
ISIN: MT0000580101
WKN: A1JGT0
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange; FNSE
EQS News ID: 1232587





 
End of News DGAP News Service





1232587  10.09.2021 



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