International Personal Finance PLC announced an invitation (Exchange Offer) to holders of its outstanding 7.75%. notes due 2023 (2023 Notes) to exchange their 2023 Notes for new, retail eligible, fixed rate, senior unsecured sterling denominated 12%. notes due 12 December 2027 (ExchangeNew Notes).

The Exchange New Notes will be consolidated and form a single series with the Issuer's £50,000,000 12%. notes due 12 December 2027 (Existing 2027 Notes). The purpose of the Exchange Offer is to extend the maturity profile of part of the Issuer's debt financing.

The Exchange Offer provides holders of 2023 Notes with the opportunity to exchange their holdings of the 2023 Notes for the Exchange New Notes. An indicative timetable for the Exchange Offer and the issuance of Exchange New Notes is provided below. Each holder of 2023 Notes whose 2023 Notes are accepted for exchange by the Issuer will receive (i) £100 in nominal amount of Exchange New Notes for each £100 in nominal amount of 2023 Notes validly offered and accepted for exchange by the Issuer; (ii) accrued and unpaid interest on their 2023 Notes in cash from and including the interest payment date in respect of the 2023 Notes immediately preceding the Settlement Date (as defined below) to but excluding the Settlement Date; and (iii) an exchange fee in cash in the amount of £1.50 per £100 in nominal amount of 2023 Notes validly offered and accepted for exchange by the Issuer.

The Exchange New Notes will bear interest at a fixed rate of 12% per annum, payable semi-annually in arrear in two equal instalments on 12 June and 12 December each year and will be redeemed in accordance with their terms and conditions at their nominal value on 12 December 2027. They are expected to be rated BB- by Fitch and Ba3 by Moody's Investors Service. The Exchange New Notes are expected to be listed on the Financial Conduct Authority's Official List and admitted to trading on the electronic order book for retail bonds of the London Stock Exchange's Main Market.

Holders of Exchange New Notes should, in most normal circumstances, be able to sell their holdings during normal trading hours (subject to market conditions) on the open market through their stockbroker. Holders of the 2023 Notes may decide to participate in the Exchange Offer in respect of all or part of their holding by offering at least £100 in nominal amount of 2023 Notes (provided such amount is in multiples of £100) in accordance with the procedures, and subject to the terms and conditions, set out in the exchange offer memorandum dated 2 November 2023 (the "Exchange Offer Memorandum").