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

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.

GOTTEX Brokers SA (Switzerland), Signet Bank AS (Latvia), Bankhaus Scheich Wertpapierspezialist AG (Germany), Redgate Capital AS (Estonia), and Adamant Capital Partners (Bulgaria) accompany the offering as joint managers and regional sales agents.
Aalto Capital (Germany) acts as Sole Global Coordinator for the public offering and the private placement as well as Financial Advisor to the Group.

Tarmo Sild, Head of Iute Group: “The successful bond issue is recognition for our team and our technology. Capital markets are under pressure and interest rates have increased significantly since 2019. Raising EUR 40 million in March 2023 at a yield to maturity of 12.3% is proof that we have done the right job for our investors and our hundreds of thousands of end customers in Balkan countries. We are confident that there will be further demand for our EUR 2021/2026 bond.”

Home Member State of IuteCredit Finance S.à.r.l. pursuant to article 2(1)(i) of Directive 2004/109/EC is Luxembourg.