Mannheimer Swartling advises syndicate of Nordic banks on the recapitalisation of Viaplay Group AB (publ)
Viaplay Group has on 9 February 2024 announced the successful completion of its comprehensive recapitalisation programme.
The programme is comprised of, amongst other things, a SEK 3.1 billion directed share issue, a 0.9 billion rights issue, a SEK 2 billion write-down of existing debt obligations (of which SEK 0.5 billion will be converted into equity), amendments and extensions of existing bank and bond commitments of SEK 14.6 billion and a range of self-help measures to improve the group’s liquidity and profitability.
The transactions and measures are intended to leave Viaplay Group well-capitalised to achieve its objectives of focusing on its core Nordic, Netherlands and Viaplay Select operations and gradually returning to double digit operating profit (EBIT) margins and healthy cashflow generation.
The bank syndicate providing the bank commitments was advised by Mannheimer Swartling in the transaction.
