n update to investors, Catena Media has confirmed the placement of a new €150m senior unsecured bond scheduled for 2021.

In turn this would see Catena governance expand its current corporate debt framework to €250m ‘new bond loan’, with corporate interest payments reduced from 6.75 to 5.5%.

The update will further assist the Stockholm-listed affiliate network to continue with the company’s ongoing M&A expansion strategy.

Henrik Persson Ekdahl, Acting CEO of Catena Media commented: “We are very pleased with the great interest that has been shown from investors to participate in this transaction, both from our existing bondholders rolling over to the New Bonds as well as from new investors.

Looking to the future, Catena governance will refinance its existing €100m corporate debt structure which is set to mature in September 2019.

Further assisting its growth strategy, Catena will be allowed to trigger an additional debt access within the range of €3-30m; currently representing 75% of the Group’s operating EBITDA.

Ekdahl added: “The New Bonds provide us with a lower cost of financing as well as increased flexibility for additional financing, which we consider as an important step in our continued development. With this, we have enhanced our capacity to continue on our strategic path and to be a leading player in the ongoing consolidation of the affiliate market space.”