FINANCING
Our different securities
Over the years, Catena Media has issued several different types of securities to finance the group’s operations. Alongside ordinary shares, issued instruments have included bonds and hybrid capital securities.
Current balances can be found in the interim reports in the “Other” section under “Funding”.
Bond issue 2021/2024
In 2021, Catena Media issued senior unsecured floating-rate bonds with a nominal value of EUR 55 million under a framework of EUR 100 million. The bonds had a floating rate coupon of 3-month Euribor plus 6 percent, with 3-month Euribor being subject to a floor of 0 percent.
In Q1 2024, a part-repayment of half of the nominal amount of the bond was made. As a result, the total outstanding nominal amount of the bond was EUR 27.5 million (55.0), of which Catena Media held EUR 6.15 million (12.3) on 29 February 2024. The maturity date was extended to 9 June 2025.
In June 2025, the senior bonds were fully redeemed. Catena Media has no outstanding bond obligations.
Hybrid capital securities (CATME HO1)
Hybrid capital securities are denominated, subordinated, perpetual capital securities whose first possible redemption date occurs five years after the issue date of 10 July 2020. The hybrids are treated as equity under current IFRS reporting standards. Each hybrid has a nominal value of SEK 100 and a variable coupon of 3-month STIBOR plus 8 percent per annum. Catena Media waived its option to redeem the hybrid capital securities five years post-issuance, in July 2025. In accordance with the terms of the hybrid capital securities, increased by 300 basis points, the base interest rate increased by 300 basis points, from 8 percent to 11 percent. This rate will increase by an additional 1 percent per year in subsequent years.