CentralNic Group PLC - Bondholder Meeting
CentralNic Group plc
("CentralNic" or the "Company" or the "Group")
CentralNic Group plc (AIM: CNIC), the global internet platform that derives revenue from the subscription sales of domain names and web services, announces it has called a bondholder meeting to be held on
Since the senior secured bond issue in H2 2019 (more details on the bond terms were announced on
In order to facilitate the Company's continued strong growth by making further acquisitions while not diluting its existing shareholder base, CentralNic is now seeking to make certain amendments to the terms for the Bond. These changes reflect, in part, the fact that since issuing the Bond, CentralNic has become a larger company and therefore is able to service more debt than at the point the bond was initially placed.
The proposed changes are to:
1. increase the maximum potential amount under the Bond from
2. allow for proforma and certain other common adjustments to EBITDA in the Bond Terms, in calculation of the super senior RCF and other thresholds and baskets. This is to better reflect the acquisitive growth strategy of the Group.
It should be noted that the changes, if approved, merely increase the potential cap of the bond so as to provide the Group with enhanced potential flexibility for financing future acquisitions by tapping the bond in increments reflecting the size of specific acquisitions. The changes do not, of themselves, increase the amount of the Bond or create any obligations to increase the amount of the bond. Any increase of this amount would be by way of a tap issue and would remain subject to compliance with the same incurrence tests as are currently in place, including a test on the Company's leverage as expressed as a ratio of Total Net Debt to EBITDA.
The Bond matures in
For further information:
CentralNic Group Plc
Don Baladasan, Group Managing Director
+44 (0) 203 388 0600
Zeus Capital Limited (NOMAD and Joint Broker)
+44 (0) 161 831 1512
+44 (0) 203 829 5000
Stifel (Joint Broker)
+44 (0)20 7710 7600
Pareto Securities AS (Bond Arranger)
+47 411 04 466 Lisa.Karlsen@paretosec.com
Newgate Communications (for Media)
+44 (0) 203 757 6880
About CentralNic Group plc
CentralNic (AIM: CNIC) is a
CentralNic operates globally with customers in almost every country in the world. It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis.
For more information please visit: www.centralnicgroup.com
Quick facts: Centralnic Group PLC
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