6 June 2024
International Personal Finance
plc
Pricing of New EUR
Notes
International Personal Finance plc
("IPF"), the holding
company for a global consumer finance business, helping people
excluded from mainstream finance to access simple, personal and
affordable credit, announces today the successful pricing of
an issuance of EUR 341,000,000 10.75% Fixed Rate Notes due 2029 at
an issue price of 99.493% (the "Notes").
The Notes were oversubscribed multiple times
during marketing with over 150 investors participating in the
transaction. The proceeds of the Notes will be used to purchase the
EUR 341,228,000 Senior Unsecured Notes due 2025 accepted, in IPF's
sole discretion, in the tender offer announced by IPF on 3 June
2024. The Notes are expected to be issued on 14 June
2024.
Commenting on today's announcement, Gerard
Ryan, Chief Executive Officer of IPF, said:
"We are delighted by the strong demand for the
Notes from debt investors, which reflects the strength of IPF as an
investment proposition and as a key provider of simple, fair and
affordable consumer finance in our nine markets. The new Notes
refinance our 2025 Eurobond well ahead of maturity and materially
extend our debt maturity profile. We are also very pleased that our
strong performance combined with this refinancing has led to Fitch
Ratings placing IPF's credit ratings on Rating Watch Positive with
the intention to upgrade IPF to "BB" following the closing of this
transaction. I would like to thank investors both new and returning
for their support and belief in our purpose of building a better
world through financial inclusion."
The final terms relating to the
Notes (the "Final Terms")
are expected to be published on or around 12 June 2024 and will be
submitted to the National Storage Mechanism.
For further information contact:
|
Kris Adamski
Group Treasurer
|
+44 1135 395 466
|
|
Rachel Moran
Investor Relations Manager
|
+44 7760 167
637
|
DISCLAIMER -
INTENDED ADDRESSEES
Please note that the information
contained in the Final Terms, once published, and the base
prospectus dated 6 June 2024 and published by IPF (the
"Base Prospectus") may be
addressed to and/or targeted at persons who are residents of
particular countries (specified in the Base Prospectus) only and is
not intended for use and should not be relied upon by any person
outside these countries and/or to whom the offer contained in the
Base Prospectus as supplemented by the Final Terms is not
addressed. Prior to relying on the information contained in
the Base Prospectus you must ascertain from the Base Prospectus
whether or not you are part of the intended addressees of the
information contained therein. In particular, this announcement is
not for distribution in the United States and the Notes have not
been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "Securities Act"). Subject to certain
exceptions, Notes may not be offered, sold or delivered, directly
or indirectly, in the United States or to, or for the account or
benefit of U.S. persons, as such terms are defined in Regulation S
under the Securities Act. There will be no public offering of the
Notes in the United States.
Your right to access this service is
conditional upon complying with the above requirement.
Legal Entity Identifier:
213800II1O44IRKUZB59