Proactive Investors - Run By Investors For Investors

CentralNic to meet with fixed income investors to secure funding for TPP acquisition

The AIM-listed firm said that subject to market conditions a €50mln 4-year senior secured non-convertible bond issue may follow the meetings
Web address
The company said on Monday that it agreed to acquire TPP for A$24mln

CentralNic Group PLC (LON:CNIC) is to hold a series of fixed income investor meetings from the start of next week to try and secure funds for its acquisition of Australasian domain name and hosting reseller TPP Wholesale.

The AIM-listed firm, which provides registry services for top-level domain names (TLDs), said that subject to market conditions, a €50mln (£44mln) 4-year senior secured non-convertible bond issue may follow the meetings.

READ: CentralNic bounces as it snaps up Australasian domain name seller TPP Wholesale for A$24mln

CentralNic said any debt raised would be used to help repay any existing interest-bearing liabilities and enable the completion of the TPP acquisition.

TPP is currently Australasia’s leading domain name and hosting reseller platform business with around 14,000 reseller customers and 840,000 domains under management including 19% of all ‘.com.au’ registrations.

CentralNic said on Monday that subject to the outcome of the financing discussions it would acquire TPP for A$24mln (£13.1mln).

In early trading on Thursday, CentralNic shares were steady at 66.5p.

View full CNIC profile View Profile

Centralnic Group PLC Timeline

Related Articles

Rail car on a track
July 26 2018
The US has more than 1.5 million freight cars and Duos Technologies has found a faster and innovative way to safely maintain them
StatPro Revolution
May 24 2019
On 20 May the company secured a three-year contract extension for its Revolution platform from a top 20 fund administrator carrying a price tag of at least £2.44mln
.com domain
April 08 2019
Minds & Machines full-year 2018 results showed an ‘exceptionally strong’ start to the current year, with recurring revenues now accounting for the majority of income

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use