Stillfront Group AB: Stillfront issues MSEK 110 bond loan

PRESS RELEASE
May 17, 2017

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, SWITZERLAND, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL.

Stillfront issues MSEK 110 bond loan in the Nordic corporate bond market

Stillfront Group AB (publ) (“Stillfront” or “the Company”) has today decided to issue a three-year senior secured bond in the amount of MSEK 110 with a final maturity in May 2020. The issue proceeds will increase Stillfront’s financial flexibility to pursue strategic opportunities and are intended to be used for general corporate purposes, including acquisitions.

The bond issue was met by a great deal of interest and was increased from an initial volume of MSEK 100 to MSEK 110 and was subscribed for by Nordic investors. The bond will bear a floating rate coupon of Stibor 3m + 7.50% and be issued within a total framework amount of MSEK 500 million. Stillfront intends to apply for listing of the bond on Nasdaq Stockholm within 60 days after the issue date.

The proceeds from the bond issue will increase Stillfront’s financial flexibility to pursue strategic opportunities and are intended to be used for general corporate purposes, including acquisitions.

Jörgen Larsson, CEO, Stillfront Group, comments:

“We are very pleased with the great interest that the investors have showed in Stillfront and our business model. The issue of the bond will give the Company increased financial flexibility to enable it to pursue interesting acquisitions and other strategic opportunities, and we look forward to continuing to develop and further diversify Stillfront’s portfolio with additional game studios and games”, says Jörgen Larsson, CEO, Stillfront.

Advisors

Carnegie Investment Bank AB (publ) acted as Sole Bookrunner, White & Case acted as legal advisor to Carnegie and DLA Piper acted as legal advisor to the Company in connection with the transaction.

 

For additional information, please contact:

Jörgen Larsson, CEO, Stillfront
Phone: +46 70 321 18 00
E-mail: jorgen@stillfront.com

Sten Wranne, CFO, Stillfront
Tel: +46 70 585 12 58
E-post: sten@stillfront.com

About Stillfront

Stillfront is an independent creator, publisher and distributor of digital games – with the vision to become one of Europe’s leading indie game creators and publishers. Stillfront operates through six near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in Swedan and the UK, Dorado Online Games in Malta, Simutronics in the US and Babil Games in the UAE and Jordan. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and MENA. For further information, please visit www.stillfront.com.

Selected games

Stillfront’s portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and Gemstone IV are so called MUD-games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and Admiral are mobile strategy games with very strong player bases, which are published by Babil Games.

Nasdaq First North Ticker Symbol: SF
Certified Adviser: Avanza Bank, phone +46 8 4094 2120

This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 a.m. CEST on 17 May 2017.