DGAP-News: IuteCredit Finance S.à.rl / Keyword (s): Bond

IuteCredit issues corporate bonds worth € 75 million to professional and retail investors

27.09.2021 / 10:00
The issuer is solely responsible for the content of this advertisement.

IuteCredit issues corporate bonds worth € 75 million to professional and retail investors

Tallinn, Estonia, September 27, 2021. IuteCredit Group (“Iute”) has issued 75 million euros worth of senior secured corporate bonds (ISIN: XS2378483494) through its wholly owned subsidiary IuteCredit Finance Sarl, following a series of European professional investor meetings and a first-time public offering for retail investors in Estonia, Latvia, Lithuania and Germany. Iute will use the proceeds of the issue to finance growth in current and future markets and to refinance existing debt.

The significantly lower coupon price and longer maturity compared to the already outstanding corporate bond (XS2033386603) have a beneficial effect on Iute’s financing structure. The Senior Corporate Guaranteed Bonds maturing in 2026 were issued at par with an annual interest rate of 11.0% payable semi-annually. The first interest payment will be made on April 6, 2022.

The initial public offering of up to € 50 million was exceeded by more than € 35 million. Therefore, Iute decided to increase the offer by 25 million euros in line with the strong demand and the flexibility of the current financing arrangements.

All submitted retail subscription orders totaling € 20 million were fully allocated. Of this, more than 2,500 retail investors from the Baltic countries accounted for almost € 18 million. Approximately 75% of the total issuance volume was allocated under partial consideration of subscription orders to more than 30 institutional investors across Europe. The settlement is scheduled for October 6, 2021.

The new bonds are expected to be listed on the Regulated Markets of the Frankfurt Stock Exchange and the Nasdaq Tallinn Stock Exchange. The first day of trading on the Frankfurt Stock Exchange is expected on October 6, 2021 and October 7, 2021 on the Nasdaq Tallinn Stock Exchange.

GOTTEX Brokers SA (Switzerland), Signet Bank AS (Latvia), Bankhaus Scheich Wertpapierspezialist AG (Germany), Redgate Capital AS (Estonia) ,? Iauliu bankas AB (Lithuania) and Adamant Capital Partners (Bulgaria) accompanied the offer as joint managers and regional sales agents. GSK Stockmann SA (Luxembourg) served as global legal advisor and as LEXTAL law firm as legal advisor for the Baltic countries.

Aalto Capital (Germany) acted as Sole Global Coordinator for the public offering and private placement, as well as Group Financial Advisor.

Tarmo Sild, Executive Director of the IuteCredit group, commented: “We are humbled and proud of the trust and credit that institutional and retail investors place in Iute. The proceeds of the issuance continue to support Iute in achieving our mission, which is to create extraordinary expertise in the field of personal finance. “

Further management comments can be found in additional press releases on the website at: iutecredit.com/news.

The home Member State of IuteCredit Finance S.à.rl in accordance with Article 2 (1) (i) of Directive 2004/109 / EC is Germany.

Contact:

IuteCredit Europe AS
Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: [email protected]
Phone: +372 622 9177

About IuteCredit:

Iute, established in 2008, is a leading personal finance company in Europe. The Group specializes in installment loans and instant payment services through its subsidiaries 100% using equity and credit capital. IuteCredit currently serves clients in Moldova, Albania, North Macedonia and Bulgaria, as well as Bosnia and Herzegovina.

IuteCredit’s credit products are unsecured consumer loans with maturities between 1 month and 48 months and secured auto loans with maturities of up to 72 months.

Iute’s mission is to create an extraordinary personal finance experience by exceeding client expectations.

www.iutecredit.com

IMPORTANT INFORMATION

The information contained herein is not for disclosure, publication or distribution, in whole or in part, directly or indirectly, in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other country or otherwise. in such circumstances where disclosure, publication or distribution would be illegal. The information in this document does not constitute an offer to sell or a solicitation of an offer to purchase, nor will there be any sale of the bonds in any jurisdiction where such an offer, solicitation, or sale is illegal prior to registration, exemption from registration or qualification under the securities laws of said jurisdiction. Persons in whose possession this announcement may arrive must inform themselves and observe all these restrictions.

This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or for, or for the account. . or benefit of United States persons, except under an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This announcement does not constitute a prospectus for the purposes of Directive 2003/71 / EC, as amended (the “Prospectus Directive”) and does not constitute a public offering of securities in any member state of the European Economic Area (the “EEA “).

This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been and will not be approved in the UK in respect of the bonds. Accordingly, this announcement is not distributed and should not be broadcast to the general public in the UK. The communication of this announcement as a financial promotion can only be distributed and is directed only to (i) individuals outside the UK or (ii) investment professionals who are within Section 19 (5) of the UK Act. Financial Markets and Services 2000 (Financial Promotion) Order of 2005 (the “Order”) or (iii) companies with high net worth, and other persons to whom it may legally be communicated, included in article 49 (2) (a) a (d) of the Order (all those persons in (i), (ii) and (iii) above together are called “Relevant Persons”). Any invitation, offer or agreement to subscribe, buy or acquire said securities will be made only with Relevant Persons. Any person who is not a Relevant Person should not act or trust this advertisement or any of its contents.

27.09.2021 Dissemination of a corporate news, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases.
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