Unibet Group plc has signed an agreement with a leading international bank for a 12 month Revolving Credit Facility with a maximum value of EUR 24,000,000. The new facility will among other things be drawn to cover the early redemption of the Bonds with an outstanding amount of EUR 65.8 million.
Through the early redemption of the Bonds, Unibet expect to save between EUR 4,000,000 and 5,000,000 in Finance Costs during the facility´s duration compared to holding the Bonds to maturity. This saving includes early redemption costs of approximately EUR 1,400,000 in the fourth quarter of 2009.
In addition to the between EUR 4,000,000 and 5,000,000 saving in Finance Costs, a significant benefit of the early redemption of the Bonds is that the foreign currency volatility in the Income statement caused by the previous Bond facility will now be mitigated.
Unibet was advised in this transaction by Oreum Advokatbyrå.
For more information:
Telephone +44 208 545 6229 or +44 7887 996 116
Unibet was founded in 1997 and is an online gambling company is listed on NASDAQ OMX Nordic Exchange in Stockholm. Unibet is one of the largest privately-owned gambling operators in the European market and provides services in 27 languages through www.unibet.com. Today, Unibet has more than 3.8 million customers in over 100 countries. Unibet is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is certified by G4, Global Gaming Guidance Group.
In December 2007, Unibet acquired Maria Holdings (www.mariabingo.com), the largest online bingo operator in the Nordic market and in April 2008 Scandinavia´s largest trotting community, Travnet.
More information about Unibet Group plc can be found on www.unibetgroupplc.com
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