At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
With trusted brands that enjoy leading market positions, Adevinta operates a resilient business model at the centre of the second-hand economy at the time when consumers are seeking more sustainable and cost-efficient ways to buying products.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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Oslo, 5 November 2020 – Further to its announcement on 22 October 2020 regarding pricing of its Notes and Term Loan B (as defined below), Adevinta ASA (“Adevinta”) announced today that it has issued (i) €660 million aggregate principal amount of 2.625% senior secured notes due 2025 and (ii) €400 million aggregate principal amount of 3.000% senior secured notes due 2027 (collectively, the “Notes”). The Notes were issued pursuant to an indenture dated the date hereof between, among others, Adevinta and Citibank N.A., London Branch, as trustee and security agent.
Concurrently with the consummation of the offering of the Notes, Adevinta entered into a new senior secured Term Loan B facility consisting of (i) a €900 million EUR-denominated tranche (the “EUR TLB”) and (ii) a $506 million U.S. dollar-denominated tranche (the “USD TLB” and, together with the EUR TLB, the “Term Loan B”). The EUR TLB will bear interest at a rate per annum equal to EURIBOR (subject to a floor of zero) plus 3.250%, subject to a leveraged based margin ratchet. The USD TLB will bear interest at a rate per annum equal to LIBOR (subject to a 0.75% floor) plus 3.000%, subject to a leveraged based margin ratchet.
For more information on the use of proceeds of, and guarantees relating to, the Notes and Term Loan B, see Adevinta’s press release “Adevinta announces Pricing of Senior Secured Notes and Term Loan B” dated 22 October 2020.
This press release is neither an offer to sell nor the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The Notes discussed in this release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to US persons without registration or pursuant to an applicable exemption from registration under that act.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA or the United Kingdom.
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