Catalyst Media Group

The deal

• Catalyst Media Group plc (‘Catalyst’) owned a 17.7% stake in Satellite Information Services (Holdings) Limited (‘SIS’)
• Catalyst’s original purchase of SIS shares was financed by a mixture of public market equity and deep discount bonds (DDB) from Marshall Wace LLP, a European hedge fund
• Investec refinanced the Marshall Wace DDB enabling Catalyst to increase its effective stake in SIS up to 22.2%

The company

• Catalyst, at that time, was a media company with a broad range of revenue generating activities focussed on the distribution of audio-visual content over the internet
• SIS is the leading producer of video, audio and data from race courses to over 9,700 licensed betting offices in the UK and Ireland, whose major customers include Ladbrokes, William Hill, Coral and The Tote

Investec’s role

Investec Growth & Acquisition Finance structured a debt package providing Catalyst with a medium-term capital solution and substantial benefit to early repayment.

www.cmg-plc.com

Equity    |   Mezzanine finance    |   Asset based lending    |   Integrated finance