Cherry issues €50m secured bond
Cherry has issued a four-year senior secured bond of €50 million ($55.8 million) with maturity on July 11, 2020.
Net proceeds will be used to partly finance the acquisition of 49% of the shares in ComeOn Malta, with an option to require the remaining stake.
Cherry expects to finalise the deal before the end of this month.
Fredrik Burvall, chief executive of Cherry, said: “We are pleased with the large interest among Nordic investors for the bond issue, despite challenging market conditions.
“The access to the corporate bond market demonstrates investors’ trust for Cherry, the acquisition of ComeOn and our business model.
“The bond issue enables Cherry to complete the acquisition of the initial 49% of ComeOn.”
Related article: Cherry to acquire ComeOn