Kambi Group redeemed convertible bonds of Kindred Group

Kambi Group redeemed convertible bonds of Kindred Group

As Kindred was the spunoff company of Kambi, in 2014, the latter gave a convertible debt worth7.5 million to Kindred.

However, Kambi could repay that bond to Kindred Group. So, the reversible debt was set up, to be paid again at Kambi’s discretion upon fulfilling specific financial criteria.

In the recent years, Kambi confirmed that it had fulfilled the required criteria and guaranteed the opportunity to restore the debt. Kambi’s payout of the reversible debt implies that the company won’t have to obtain Kindred’s prior claim for few occurrences anymore.

Furthermore, the possibility of Kindred reversing the debt into stakes, which could have granted the casino a checking stake in Kambi, has now been eradicated. Although Kambi has repaid the reversible debt, it won’t have any effect on the companionship between these two companies.

The partnership was recently extended till 2026, and the payout of the debt doesn’t alter the terms of the partnership agreement.

Kambi is a leading provider of sports betting technology and services. With data-driven sportsbook core and flexible technology, the provider acts as an incubator for operator innovation and different...