Published
Financial

Silver Heritage to repay bonds and raise additional $8.4m

Asian operator and developer Silver Heritage Group has renegotiated the key terms of its outstanding bond payments.

silverheritagefinancial

Silver Heritage will be repaying up to $6.8m of its $18m worth of outstanding bond payments.

The company is also planning to raise at least $8.4m through an entitlement offer, worth $0.014 per new share.

The maturity date of the bonds has been extended by 19 months up until 2 April 2021, which extends the repayment schedule that Silver Heritage will have to abide by.

According to the new arrangement, the $18m repayment is not due for another 19 months and will also provide for a cash sweep for 31 March 2019.

This cash sweep ensures that any balances held by Silver Heritage over $5m at the end of the quarter will be put towards redeeming additional bonds.

This should offset the negative impact that came with the announcement of the company’s H1 results in which Silver Heritage requested to halt trading.


Asia News Sponsor
Premium+ Connections
Premium

1xBet Partners

 
Premium

GammaStack

 
Premium

Imagine Live

 
Premium

RISK

 
 
Premium

Revsharks

 
Premium

Sport Generate

 
Premium

Galaxsys

 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

Digitain

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...