Matomy Media to repay NIS 101 million convertibles with sale proceeds

By Angela McDaniels

Tacoma, Wash., April 11 – Matomy Media Group Ltd. plans to use the proceeds of an asset sale to repay its NIS 101 million convertible bonds, according to a company filing with the London Stock Exchange.

The company plans to sell its shares in Team Internet AG to Rainmaker Investments GmbH for $36 million and use the proceeds to repay the convertibles at par.

At a bondholder meeting, 79.4% of the outstanding convertibles were represented, and all of the present bondholders voted to approve the sale.

Matomy, a media company based in Tel Aviv, owns 90% of Team Internet, and Rainmaker owns the remaining 10%.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.