Verve Group SE to Redeem Outstanding Bonds with Recent Issue Proceeds

Verve Group SE, a digital media company, announced the successful placement of a subsequent bond issue valued at EUR 65 million under its senior secured floating rate bond framework. The transaction, which resulted in a yield of 3m Euribor + 4.88%, saw high demand from institutional investors in the Nordics, Europe, and the U.S.

The proceeds from this issue will be used to fully redeem the company’s outstanding 2020/2024 senior secured bonds with ISIN SE0015194527 and for general corporate purposes. The 2020 Bonds will be redeemed at a price of 100.719% of the nominal amount, with the redemption date set for July 29, 2024.

The company expects to save at least EUR 10 million in annual interest costs, with CFO Paul Echt highlighting the positive financial impact and improved credit ratios following the acquisition of Jun Group. The settlement of the new bonds is expected around July 15, 2024, and Verve plans to list them on the Frankfurt Stock Exchange and Nasdaq Stockholm.