(Jamma) The order books for Gamenet's 200 million senior secured bond (rating B1/B+) will close this morning. According to the first rumors, the 5-year bond with a call option after the second year will be priced at par with a 7,25% coupon.
The maturity date is 2018. The issue is aimed at US institutional investors and certain non-US entities. The interest of the operators is justified by the solid debt situation of Gamenet, which after the issue will have a ratio between net debt and EBITDA equal to 1,2 times. The stock will be placed on the US market, but strong demand is also expected from Europe. The launch is expected by the end of the week. The operation is handled by UBS as lead left joint global coordinator. Bookrunners are also Credit Suisse, UniCredit and Banca Imi.
