Tallinn, Estonia, 27 September 2021. IuteCredit Group ("Iute") has issued EUR
75million Senior Secured Corporate Bonds (ISIN: XS2378483494) through its fully
owned subsidiary IuteCredit Finance S.a.r.l., following a series of European
professional investor meetings as well as a first-time public offer to retail
investors in Estonia, Latvia, Lithuania, and Germany. The proceeds of the issue
will be used by Iute for financing 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 Secured Corporate Bonds maturing 2026
were issued at par with an interest rate of 11.0% per annum payable
semi-annually. The first interest payment will be carried out on 6 April 2022.
The initial public offer of up to EUR 50 million was oversubscribed by more
than EUR 35 million. Therefore, Iute decided to increase the offer by EUR 25
million in line with the strong demand and the flexibility of current financing
arrangements.
All retail subscription orders submitted of in total EUR 20 million were
allocated in full. Of this, more than 2,500 retail investors from the Baltics
accounted for almost EUR 18 million. Approximately 75% of the total issue
volume was allocated under partial consideration of subscription orders to more
than 30 institutional investors across Europe. Settlement is to be expected on
6 October 2021.
The new bonds are expected to be included on the Regulated Markets of both the
Frankfurt Stock Exchange and the Nasdaq Tallinn Stock Exchange. First day of
trading on the Frankfurt Stock Exchange is to be expected on 6 October 2021,
and 7 October 2021 on the Nasdaq Tallinn Stock Exchange.
GOTTEX Brokers SA (Switzerland), Signet Bank AS (Latvia), Bankhaus Scheich
Wertpapierspezialist AG (Germany), Redgate Capital AS (Estonia), Šiauliu bankas
AB (Lithuania) and Adamant Capital Partners (Bulgaria) accompanied the offering
as joint managers and regional sales agents. GSK Stockmann SA (Luxembourg)
performed as Global Legal Advisor and LEXTAL Law Firm as Baltics Legal Advisor.
Aalto Capital (Germany) acted as Sole Global Coordinator for the public
offering and the private placement as well as Financial Advisor to the Group.
Tarmo Sild, Group CEO of IuteCredit, commented: "We are humble and proud
because of the trust and credit given to Iute by institutional and retail
investors. The proceeds of the issue continue to support Iute in the pursuit of
our mission, which is to create the extraordinary experience in the field of
personal finance."
Further comments from management can be found in additional press releases on
the website at: iutecredit.com/news.
Home Member State of IuteCredit Finance S.à.r.l. pursuant to article 2(1)(i) of
Directive 2004/109/EC is Germany.
Contact:
IuteCredit Europe AS
Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iutecredit.com
Phone: +372 622 9177
About IuteCredit:
Iute - established in 2008 - is a leading European personal finance company.
The Group is specialized in installment loans and instant payment services via
its 100% subsidiaries using equity and loan capital. IuteCredit serves
customers currently in Moldova, Albania, North Macedonia, and Bulgaria as well
as Bosnia and Herzegovina.
IuteCredit's loan products are unsecured consumer loans with maturities between
1 month and 48 months and car-secured loans with maturities up to 72 months.
The mission of Iute is to create the extraordinary experience in personal
finance by exceeding customers' expectations.
www.iutecredit.com
IMPORTANT INFORMATION
The information contained herein is not for release, publication or
distribution, in whole or in part, directly or indirectly, in or into the
United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa
or any other countries or otherwise in such circumstances in which the release,
publication or distribution would be unlawful. The information contained herein
does not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of, the bonds in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration, exemption
from registration or qualification under the securities laws of any such
jurisdiction. Persons into whose possession this announcement may come are
required to inform themselves of and observe all such 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 under the 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 to, or for the account or benefit of, U.S. persons except
pursuant to 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 offer 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 or will be approved in the United
Kingdom in respect of the bonds. Accordingly, this announcement is not being
distributed to, and must not be passed on to, the general public in the United
Kingdom. The communication of this announcement as a financial promotion may
only be distributed to and is only directed at (i) persons who are outside the
United Kingdom or (ii) investment professionals falling within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(the "Order") or (iii) high net worth companies, and other persons to whom it
may lawfully be communicated, falling within Article 49(2)(a) to (d) of the
Order (all such persons in (i), (ii) and (iii) above together being referred to
as "Relevant Persons"). Any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
Relevant Persons. Any person who is not a Relevant Person should not act or
rely on this announcement or any of its contents.© 2021 GlobeNewswire
