Eniro announces oversubscription of preference shares issue 

Eniro announces oversubscription of preference shares issue

Jun 26, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Eniro AB (sto:ENRO.ST) said today that the application period for subscription of its directed issue of preference shares has expired.

The company said that the share issue, amounting to SEK400m, has been fully subscribed. In total, subscription applications in excess of SEK700m were submitted.

The issue is to finance the early repayment in full, at a discount, to one of the lenders in the bank consortium with which the company has a loan agreement. By financing the repayment of existing debt at a discount through the issue of preference shares Eniro reduces its leverage while also strengthening the company's cash flow, earnings and key figures, the company said.

Eniro is a local search company in the Nordic region.

(EUR1.00=SEK8.82)

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