Multitude Capital Oyj

Multitude Capital Oyj successfully places EUR 70 million in perpetual bonds qualifying as IFRS equity

Helsinki, 11 March 2026 – Multitude Capital Oyj (Multitude) is pleased to announce that it has successfully placed EUR 70 million in subordinated perpetual capital notes, (the "Capital Notes") qualifying as IFRS equity, under a framework of EUR 120 million (ISIN NO0013726893). The issuance is guaranteed by Multitude AG.

The Capital Notes were placed with qualified investors and attracted strong demand from both existing and new institutional investors across Continental Europe, the Nordics and the UK.

The Capital Notes will carry a floating rate coupon of  3 month EURIBOR plus 8.90% and were priced at 96.00% of the nominal amount. The Capital Notes are expected to settle on 23 March 2026. The Capital Notes will be listed on a regulated market within four months and the Frankfurt Stock Exchange Open Market within 60 days (with intention to list within 30 days).The net proceeds will be used to finance the tender offer for Multitude’s outstanding EUR 45 million perpetual capital notes with ISIN NO0011037327 (the “Existing Notes”), issued on 5 July 2021, ahead of their interest step-up date on 5 July 2026, as well as for general corporate purposes.

In the Capital Notes issue, holders of the Existing Notes were offered to exchange Existing Notes for Capital Notes (the "Exchange Offer"). Holders of Existing Notes with an aggregate principal nominal amount of approximately EUR 19.2 million decided to participate in the Exchange Offer, which will therefore be subject to exchange for Capital Notes.

As announced on 10 March 2026, Multitude is also offering holders of the Existing Notes the opportunity to tender their notes at a price of 102.00%.

Bernd Egger, Multitude’s CFO comments, “This transaction reflects our disciplined capital markets strategy and our commitment to proactively manage our balance sheet. By refinancing ahead of the step-up date, we optimise our capital structure while maintaining flexibility to support the Group’s continued growth. The strong investor demand underlines market confidence in Multitude’s strategy and financial performance.”

Fitch Ratings Confirmation

Additionally, Fitch Ratings has affirmed Multitude AG’s Long-Term Issuer Default Rating (IDR) at ‘B+’ with Stable outlooks and upgraded the consolidated Group’s standalone credit profile to ‘BB-’ from ‘B+’. At the same time, Fitch has upgraded Multitude Bank PLC’s Long-Term IDR to ‘BB-’. Multitude AG’s senior unsecured notes have been affirmed at ‘B+’ with a Recovery Rating of ‘RR4’, and its Existing Notes are rated ‘B-’ with a Recovery Rating of ‘RR6’. 

Fitch Ratings has assigned the Capital Notes placed under this issuance with an expected long-term rating of ‘B-’/’RR6’, in line with Multitude AG’s Existing Notes.

Pareto Securities acted as global coordinator and Pareto Securities and Seaport Global Securities acted as joint bookrunners in the bond issuance.

For further information, please contact:

Multitude Group
Bernd Egger, CFO of Multitude Group
+49 173 793 1235, bernd.egger@multitude.com

Adam Hansson Tönning, Head of IR & Treasury at Multitude Group
+46 733 58 31 71, adam.tonning@multitude.com

Deal Manager
DCM Syndicate, Pareto Securities
dcmsyndicate@paretosec.com 

About Multitude Capital Oyj:

Multitude Capital Oyj acts as Multitude Group’s funding vehicle, issuing bonds to support liquidity for the Group’s operations.

About Multitude AG:

Multitude is a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized enterprises, and other FinTechs overlooked by traditional banks. The services are provided through three independent business units, which are served by our internal Growth Platform. Multitude’s business units are Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank). Multitude Group employs over 700 people in 25 countries and offers services in 17 countries, achieving a combined turnover of 274 million euros in 2024. Multitude was founded in Finland in 2005, is registered in Switzerland and is listed on the Prime Standard segment of the Frankfurt Stock Exchange under the symbol 'MULT'. www.multitude.com 

This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014/EU). The information was submitted for publication, through the agency of the contact person set out above, at 10:30 CET / 11:30 EET on 11 March 2026.