12th Nov 2014 14:44
LONDON (Alliance News) - Playtech PLC said Wednesday that it has placed EUR297 million unsecured convertible bonds, intending to use the proceeds to pursue "acquisitive and organic opportunities."
The bonds will mature November 19, 2019, and will carry a coupon of 0.50% per year payable annually in arrears. The bonds will be convertible into full paid ordinary shares at an initial conversion price of EUR10.1325.
The shares underlying the bonds represent 9.99% of the company's issued share capital immediately prior to the offering.
Shares in Playtech are trading down 7.6% at 619.00 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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