4FINANCE
13.4.2017 15:07:45 CEST | Business Wire | Press release
4finance Holding S.A. (the “Group”), Europe’s largest online and mobile consumer lending group, has placed and priced USD325 million of senior unsecured 5 year fixed rate notes. These notes mature in 2022 and were issued with a 10.75% yield, at par.
Net proceeds from the bond issue will be used to refinance 4finance’s 2019 USD notes and to call its 2018 SEK notes, with the remaining funds for growth and general corporate purposes. The successful refinancing tender for the 2019 USD notes and the consent solicitation to amend terms on residual notes (including removal of the August 2017 put option) were completed with a 66% tender acceptance rate.
The new 5 year issue represents a liquid benchmark offering, with the scale to attract over 50 investors and secures 4finance’s long term funding.
George Georgakopoulos, CEO of 4finance, commented:
“The oversubscribed bond issue attracted interest from around the world, and was anchored by blue chip investors. Its success reflects the performance we have achieved in our mature markets and the strong interest our expansion into Latin America is attracting from investors. I’d like to welcome our new investors, large and small.”
“4finance is a business of growing scale and we have underwritten over EUR4bn of consumer loans since our launch in 2008.
Our investment story reflects our ability to combine a fintech capability, with a responsible lending approach and appeal to millennials seeking convenient, transparent access to credit. We have fused the culture of a bank, with rigorous underwriting, prudence and careful regard for regulation, and that of a digital financial technology business, with its sharp focus on customer experience and innovation. This has resulted in an offering that competes with the established banks and provide real choice for consumers.”
These senior notes have a 5 year maturity with a 2 year non-call period and were offered on a Rule 144A / Reg S basis with ISINs XS1597295838 / XS1597294781 respectively. The bond was priced on April 12th , closing is expected on 28 April 2017.
Stifel Nicolaus Europe Limited acted as lead manager and sole bookrunner, with ABG Sundal Collier ASA as co-manager.
About 4finance
Established in 2008, 4finance is the largest and fastest growing online and mobile consumer lending group in Europe with operations in 16 countries. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 4 billion to date in single payment loans, instalment loans and lines of credit.
4finance operates through a portfolio of market leading brands with strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those under-served by conventional lending.
4finance has group offices in Riga (Latvia), London (UK) and Miami (USA), and currently operates in Argentina, Armenia, Bulgaria, the Czech Republic, Denmark, the Dominican Republic, Finland, Georgia, Latvia, Lithuania, Mexico, Poland, Romania, Spain, Slovakia and Sweden. The group also provides consumer and SME lending through TBI Bank, its EU licensed banking operations in Bulgaria and Romania.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170413005540/en/
Contact:
For more information, please contact:
4finance
(Investor
Relations)
James Etheringtonor
Email:investorrelations@4finance.com
+44
(0)7766 697 950
or
Guy Middleton
Email: press@4finance.com
or
Instinctif
Partners
(International Media)
Mark Walter
or
David
Simonson
Email: 4finance@instinctif.com
+44
(0)20 7866 7887
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