Catena Media has applied for €55 million (£4.75m) of its senior unsecured bonds to be traded on the Stockholm Nasdaq.
The transaction has been authorised by Finansinspektionen, Sweden’s Financial Supervisory Authority, with Catena providing a new company prospectus for investors.
On 9 June, Catena secured an initial floating rate for its Nasdaq bond placement, allowing the Stockholm-listed publisher to price €55 million worth of corporate debt holdings.
“Catena Media has applied for admission to trading of the bonds on Nasdaq Stockholm and the first day of trading is expected to be on or about 28 June 2021,” Catena detailed in its statement.
This June, Catena announced that it had signed a €25 million loan term arrangement with Austrian bank Raiffeisen International AG, who will provide further access to a revolving credit facility of €10 million.
The proceeds of the loan arrangement would be utilised towards the early redemption of existing bonds, benefiting the firm’s long term financial planning.
Catena’s new bond placement follows all-time high corporate performance reported by the publisher during the Q1 period, as the company outperformed its expectations delivering corporate revenues of €41 million (+52%) combined with record EBITDA results of €25 million (+95%).
Led by new CEO Michael Daly, Catena is currently reviewing all strategic options that will accelerate the firm’s US growth strategy.