on MGI - Media And Games Invest SE (isin : SE0018538068)
Verve Group SE Successfully Issues Oversubscribed Bonds
Verve Group SE has made significant strides in the bond market, as highlighted in First Berlin Equity Research's latest update. The company recently placed senior unsecured bonds, raising €50 million. This brings the total outstanding bonds to €550 million. The issuance saw strong demand, being oversubscribed and priced at a variable rate of 3-month Euribor plus 4.97%.
The fresh capital injection aims to bolster Verve's liquidity and enhance its financial flexibility. This is expected to aid in the continuation of its planned growth strategies. Preliminary Q4 figures suggest the bond issuance addresses temporary balance sheet pressures, not a fundamental decline in business performance.
The buy recommendation remains firm with a target price of €4.50, indicating a potential upside of 233%.
R. H.
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