Catena Media to raise €50m to fund imminent acquisitions
Lead generation firm also reports triple-digit Q1 revenues as it looks to complete “near term” affiliate deals
Performance marketing firm Catena Media today unveiled plans to issue additional bonds of €50m to help the company fund the completion of “near term” acquisitions.
The Malta-based affiliate this morning said it was exploring the possibility of making a tap issue in an amount of €50m under Catena’s outstanding maximum €100m senior secured callable floating rate bonds due 2019.
”The consolidation in the affiliate market is increasing and Catena Media wants to take a leading role in that development,” Robert Andersson, CEO at Catena Media, said.
He added: “We are currently looking into a number of possible acquisitions that would complement and strengthen our portfolio.
“A potential tap issue would further strengthen our growth journey.”
Today’s news comes just days after Catena Media acquired certain assets of Online Media for £17.4m as part of the lead generation firm’s strategy to strengthen its position in sports betting affiliation.
Last year, Catena completed a number of acquisitions including SBAT, casinouk.com and various US-facing affiliate assets.
In other Catena news, the affiliate company this week reported Q1 revenues increased 104% year-on-year€15.2m, while EBITDA was up from €3.34m last year to €7.22m.
New depositing customers totalled 80,421 compared to 32,321 in Q1 2015, an increase of 149% year-on-year.