gamigo AG (“gamigo”, bond SIN: A1TNJY) has repaid its 2013/2018 bond issued in 2013 early, as previously announced (see news dated 30 May 2017). The repayment was made on 3rd July 2017, at 101.50 percent of the nominal amount pursuant to the bond’s terms. As of this date, interest for the completed quarter has also been paid on time.
Against the backdrop of the gamigo group’s positive financial performance and the positive cash flow generated by it, gamigo AG and Unicredit Bank AG reached agreement on a loan including substantial lines of credit. A financing plan was developed together with Unicredit Bank which enables both early repayment of the bond and the funding of gamigo’s growth strategy, including additional acquisitions. The agreement also considerably reduces interest payments to be made by gamigo AG.
Remco Westermann, CEO of gamigo AG, said: “The early repayment of our corporate bond, which had a relatively high coupon of 8.5 percent p.a., is testament to our strong operating performance in recent years, during which we steadily expanded our revenue and market position as Europes & America’s leading gaming platform provider and positioned gamigo as a profitable, high-growth company. In the past twelve months, the pace of our growth has further accelerated as a result of the acquisition of Aeria Games, a former subsidiary of ProSiebenSat.1. Not all of our investors might have expected such a performance at the time we issued our bond.”
gamigo AG now has alternative funding options at its disposal, which the company intends to utilize for further strategic growth. The significant revenue and earnings growth also allows gamigo to make additional acquisitions from its current cash flow in line with its buy and build strategy.
About the gamigo-Group The gamigo group is one of the leading gaming companies in Europe and North America with more than 100 million registered user accounts and around 200 staff members in Hamburg, Berlin, Münster, Darmstadt (Germany), Chicago (USA) and Seoul (Korea). Apart from gamigo AG, the group consists of, among others, Aeria Games, Infernum, Intenium, adspree and GameSpree. The company functions as a publisher for free-to-play mobile and online games and also offers solutions for business customers within the scope of the gamigo platform strategy. The gamigo platform helps game publishers and developers from all over the world publish and promote their products efficiently and cost-effectively. The company’s core portfolio is comprised of successful games like Aura Kingdom, Desert Operations, Dragon’s Prophet, Echo of Soul, Fiesta Online, Goal One, Last Chaos, Shaiya, The Rats and Twin Saga. As early as in the year 2000, gamigo published the first MMOG that was completely localized into German. gamigo strives to grow its business organically as well as via acquisitions and has performed 15+ M&As since 2013, including companies specializing in games and technology as well as individual game assets.
Presscontact edicto GmbH Axel Mühlhaus / Dr. Sönke Knop Phone: +49 -(0)69-905505-52 Mail: firstname.lastname@example.org www.gamigo.ag