Playtech is going to use the proceeds to pay off €297 million worth of convertible bonds.
If you ever wondered whether being a publicly-listed company in this industry is worth it, consider the latest batch of senior secured notes sourced by Playtech. The company just announced this morning that it managed to source €350 million at a rate of 4.25 percent for its BB-rated paper.
According to the gaming and financial Technology Provider’s public announcement, the net proceeds of the issuance of the new bonds will be used to redeem on maturity all of the outstanding €297 million senior convertible bonds which are due for November 2019.
Shares of the company rallied on the news as any prospect for dilution this autumn is being discounted out of the market. After closing at around 422 pence yesterday, Playtech’s stock is currently trading 2.75 percent higher at 434 pence per share.
After the issue of the new debt paper which is due in 2026 and the redemption of the convertible bonds, the only material outstanding borrowings aside from today’s placement will be the €530 million 3.75 percent senior secured notes which are due in 2023.
Playtech also maintains a €272 million revolving credit facility which is currently undrawn.
Cost of Capital Challenges
With interest rates slowly increasing globally, Playtech’s placement today highlights the advantages which publicly-traded brokers have over other industry peers. The company’s solid capital base is underpinning the potential of its financials division at a time when the industry is getting squeezed by tighter regulations.
The news comes after the firm’s financial division TradeTech, reported that its trading volumes for 2018 surpassed $2 trillion. While a business slowdown hit the industry in the latter half of last year, companies who can afford to reach clients in an environment of higher user Acquisition costs are also set to gain more revenues per client, at least that is what the latest trends in the industry are.
While, as we already mentioned, interest rates are rising, the increase is nowhere near the pockets of savers across Europe. If EU regulators have to blame someone for the increasing risk appetite of retail investors across the continent, the focus should be on the ECB, which maintains rates at zero for a third straight year.
If you ever wondered whether being a publicly-listed company in this industry is worth it, consider the latest batch of senior secured notes sourced by Playtech. The company just announced this morning that it managed to source €350 million at a rate of 4.25 percent for its BB-rated paper.
According to the gaming and financial Technology Provider’s public announcement, the net proceeds of the issuance of the new bonds will be used to redeem on maturity all of the outstanding €297 million senior convertible bonds which are due for November 2019.
Shares of the company rallied on the news as any prospect for dilution this autumn is being discounted out of the market. After closing at around 422 pence yesterday, Playtech’s stock is currently trading 2.75 percent higher at 434 pence per share.
After the issue of the new debt paper which is due in 2026 and the redemption of the convertible bonds, the only material outstanding borrowings aside from today’s placement will be the €530 million 3.75 percent senior secured notes which are due in 2023.
Playtech also maintains a €272 million revolving credit facility which is currently undrawn.
Cost of Capital Challenges
With interest rates slowly increasing globally, Playtech’s placement today highlights the advantages which publicly-traded brokers have over other industry peers. The company’s solid capital base is underpinning the potential of its financials division at a time when the industry is getting squeezed by tighter regulations.
The news comes after the firm’s financial division TradeTech, reported that its trading volumes for 2018 surpassed $2 trillion. While a business slowdown hit the industry in the latter half of last year, companies who can afford to reach clients in an environment of higher user Acquisition costs are also set to gain more revenues per client, at least that is what the latest trends in the industry are.
While, as we already mentioned, interest rates are rising, the increase is nowhere near the pockets of savers across Europe. If EU regulators have to blame someone for the increasing risk appetite of retail investors across the continent, the focus should be on the ECB, which maintains rates at zero for a third straight year.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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