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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

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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.

Quick facts: Centralnic Group PLC

Price: 87.5 GBX

LSE:CNIC
Market: LSE
Market Cap: £165.24 m
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