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IuteCredit Finance S à r l : issues EUR 75 million Corporate Bonds to professional and retail investors

09/27/2021 | 04:01am EST

DGAP-News: IuteCredit Finance S.à.r.l. / Key word(s): Bond
IuteCredit issues EUR 75 million Corporate Bonds to professional and retail investors

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

IuteCredit issues EUR 75 million Corporate Bonds to professional and retail investors

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), ?iauliu 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.


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.



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.

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 announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: IuteCredit Finance S.à.r.l.
14, rue Edward Steichen
2540 Luxembourg
ISIN: XS2033386603
Listed: Regulated Unofficial Market in Frankfurt
EQS News ID: 1236031

End of News DGAP News Service

1236031  27.09.2021 


© EQS 2021
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