CentralNic settles bond issue to help fund acquisitions

(Sharecast News) - Internet domain name seller CentralNic Group announced on Thursday that the settlement of its €50m senior secured bond issue occurred on 3 July.The AIM-traded firm had placed the senior secured bond on 24 June.It said the bonds had been issued and could be traded on the open market of the Frankfurt Stock Exchange."Upon disbursement, which is expected before the end of this month, the company will use these funds to repay existing interest-bearing liabilities and to fund its most recent acquisitions," the board said in its statement.Those acquisitions included TPP Wholesale, which it described as Australasia's "leading platform" for resellers of domain names and hosting, for a headline consideration of AUD 24m; and Hexonet, which it said was a global domain name reseller managing more than 3.8 million domains, for consideration of up to €10m, up to €3m of which was in shares."Both acquisitions are progressing to plan and are expected to complete on schedule by the end of this month," CentralNic added.