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IuteCredit Finance S.a.r.l - Exchange Offer - Update

Iute places EUR 40 million tap on EUR 2021/2026 bonds


31 MARCH 2023


Full announcement with disclaimers, disclosures and important important information, available via iute


"Strong appetite from existing investors boosted by new subscriptions

"Tallinn, Estonia, 31 March 2023. IuteCredit Europe (“ICE”), a leading European personal finance group, through its fully owned subsidiary IuteCredit Finance S.á r.l., issued EUR 2021/2026 bonds worth EUR 40 million. The issue price of 96.5% translates into a yield to maturity of 12.3%. The tap issue brings the total volume of IuteCredit’s EUR 2021/2026 bonds to EUR 115 million.

Strong appetite from existing investors to exchange EUR 2019/2023 bonds of more than EUR 23.3 million as part of the ongoing EUR 2021/2026 bonds tap issue was boosted by new subscriptions in the amount of EUR 16.7 million.

Settlement is to be expected on 6 April 2023. 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 April 2023, and 10 April 2023 on the Nasdaq Tallinn Stock Exchange."


...


IuteCredit Finance Pricing Notice

"IuteCredit Finance S.à. r.l. taps by EUR 40 million the EUR 75 million Senior Secured Bonds 2021/2026 11% p.a. (ISIN: XS2378483494) at an offer price of 96.50%, EUR 23.3 million of which were exchanged for the EUR 2019/2023 bonds (ISIN: XS2033386603), which results in the total aggregate nominal amount of the EUR 2021/2026 bonds being EUR 115,000,000."

 

Iute with strong appetite from existing investors for EUR 2021/2026 bonds exchange offer


30 MARCH 2023


Full announcement with disclaimers, disclosures and important important information, available via iute


"Tallinn, Estonia, 30 March 2023. IuteCredit Europe (“ICE”), a leading European personal finance group, through its fully owned subsidiary IuteCredit Finance S.á r.l., has recorded strong appetite from existing investors of the EUR 2019/2023 bonds (ISIN: XS2033386603) for the exchange offer into the new bond in the course of the current tap of the EUR 2021/2026 bonds (ISIN: XS2378483494) of up to EUR 50 million. Based on the notices of acceptance received by the end of the exchange period, 29 March 2023, 13.00 CEST, investors have exchanged more than EUR 23.3 million nominally, which corresponds to almost 47% of EUR 50 million of the EUR 2019/2023 bonds outstanding.


The public offering of the new EUR 2021/2026 bonds is available for subscription by investors through their custodian banks until 31 March 2023. The new EUR 2021/2026 bonds will be offered for subscription at an issue price of 96.5% to 97.5% per bond with an interest rate of 11.0% p.a. payable semi-annually. The yield to maturity for public offering bonds is in the range of 12%. The issuing price of the new EUR 2021/2026 bonds is expected to be conclusively determined and announced on 31 March 2023 on the basis of the subscription offers received.


Tarmo Sild, Group CEO: “Investors have trusted us and continue to invest in Iute with attractive returns. The exchange allows us to extend the term of the capital invested in the Group, bring the total volume of the Iute 2021/2026 bond to over EUR 100 million, and create prerequisites for further growth. However, it is especially gratifying that we are able to implement our financing plans at a time when the entire financial sector is under pressure.”


The securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg is available on the Company’s website at: https://iutecredit.com/investor/#bonds.


All information on the offering process as well as the documents required for the subscription of the bonds are available on the Company’s website under the link https://iutecredit.com/investor/#bonds"

 

IuteCredit presents public offer of EUR 2021/2026 bond and the exchange offer for EUR 2019/2023 bond – Invitation to webcast/conference call on 23 March 2023


21 MARCH 2023


Full announcement available via Investegate


"IuteCredit presents public offer of EUR 2021/2026 bond and the exchange offer for EUR 2019/2023 bond


Invitation to webcast/conference call on 23 March 2023 Tallinn, Estonia, 21 March 2023. IuteCredit Europe (“ICE”), a leading European personal finance group, cordially invites investors and analysts to a webcast/conference call with the Management Board on 23 March 2023, 11.00 CET to present the public offer of the EUR 2021/2026 bond and the exchange offer for the EUR 2019/2023 bond. Webcast/Conference Call:

CEO Tarmo Sild and CFO Kristel Kurvits will present Iute Group as well as the offerings by means of a webcast presentation. The webcast/conference call will be held in English.

Please register in time to participate in the webcast/call at: IuteCredit Europe – Investors Call.

The webinar will be recorded and published with the presentation on the Company’s website under the link https://iutecredit.com/offer/.

All information on the offering process as well as the documents required for the subscription of the bonds are available on the Company's website under the link https://iutecredit.com/investor/#bonds.



Contact:


Kristel Kurvits, Group Chief Financial Officer (CFO) Email: investor@iutecredit.com Phone: +372 622 9177 About IuteCredit:


Iute Group is a fintech company established in 2008 in Estonia. The Group specializes in consumer finance, payment services, banking, and insurance products. It serves customers in Albania, Bosnia and Herzegovina, Bulgaria, Moldova, and North Macedonia. Iute Group finances its loan portfolios with equity, deposits, and secured bonds on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.



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."

 

01 MARCH 2023


Full announcement available via lutecredit.


to the holders of the

EUR 50,000,000.00 bonds, 2019/2023, with ISIN number XS2033386603

(the “2019/2023 Bonds” and their holders the “2019/2023 Holders”)

to exchange their bonds for the

up to EUR 50,000,000.00 bonds (the “New Bonds”) to be consolidated and form a single series with the EUR 75,000,000.00 bonds, 2021/2026 with ISIN number XS2378483494 (the “Existing Bonds”).

The 2019/2023 Holders are hereby invited to exchange their 2019/2023 Bonds with the New Bonds, under the terms and conditions contained in this exchange offer invitation dated 1 March 2023 (the “Exchange Offer Invitation”).


...


"Preliminary notices


2019/2023 Holders should note the following information:


The board of managers of the Issuer decided to give the 2019/2023 Holders the opportunity to exchange their 2019/2023 Bonds into the New Bonds (the “Exchange Offer”), which will be also offered by way of a public offering to retail investors in Estonia, Latvia, Lithuania and Germany (the “Retail Offering” and together with the Exchange Offer, the “Public Offering”) and by way of an exempt offer exclusively to qualified investors within the meaning within the meaning of Article 2(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “Prospectus Regulation”) and other investors in compliance with Article 1(4) (a) and (b) of the Prospectus Regulation in member states of the European Economic Area (the “Institutional Offering” and together with the Retail Offering, the “Cash Offering” and together with the Exchange Offer the “Offering”), to be consolidated and form a single series with the Existing Bonds."

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