Ritzio International raises us$ 280 million in debut CLN
Ritzio International is a wholly owned subsidiary of Ritzio Entertainment Group, the largest gaming company in Eastern Europe. The CLNs have a maturity of three years with a semi-annual fixed coupon rate of 10%, which were placed with a diverse group of investors following a successful roadshow to Singapore, London and New York.
Vitaly Veselko, CEO, Ritzio International, said, “The proceeds from these notes will enable us to grow and diversify our business, particularly in Germany and Italy. These countries have amended gaming legislation in a way that suits the Ritzio model.”
Commenting on the company's recent roadshow, Veselko said, “The interaction with the investor community was productive and I appreciate their comments and their support.”
Kieran Donnelly, Managing Director at Renaissance Capital, said, “This deal was closed in difficult market conditions, which speaks to the strength of the Ritzio story, its management and the structure of the deal. The deal was placed with real supporters which will hold Ritzio in good stead for the coming years.”
Renaissance Capital acted as an arranger and sole distributor of the transaction.
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