Bondholders approved an increase last month.
Domain name industry rollup CentralNic (AIM: CNIC) plans to issue more bonds to pay for additional acquisitions.
Yesterday, the company announced plans to issue €15 million in bonds “for consideration for the acquisition of near-term identified targets.”
Last month, bondholders agreed to increase the maximum potential amount under the bond from €90 million to €150 million. The company explained:
It should be noted that the changes, if approved, merely increase the potential cap of the bond so as to provide the Group with enhanced potential flexibility for financing future acquisitions by tapping the bond in increments reflecting the size of specific acquisitions.
This suggests that an acquisition announcement might be imminent.