International Personal Finance offers to exchange 7¾% notes due 2023

Chicago, Nov. 2 – International Personal Finance plc is offering holders of its £40,494,800 7¾% notes due 2023 (ISIN: XS1998163148) an opportunity to exchange their notes on a one-to-one basis for 12% notes due 2027 (Ba3//BB-), according to announcements on Thursday.

The exchange would also include accrued interest to but excluding the settlement date and an exchange fee of £1.50 per £100 nominal amount of notes exchanged.

The existing notes and new notes have a guarantee from IPF Holdings Ltd., International Personal Finance Investments Ltd., IPF International Ltd. and IPF Digital Group Ltd.

Any exchanged notes would be combined with notes sold in a concurrent retail offer and the existing £50 million of 12% notes due 2027 issued on Dec. 12, 2022.

The purpose of the offer is to extend the maturity profile of the issuer’s debt financing.

Exchanging noteholders may exchange either part or all of their holdings.

The exchange deadline is 7 a.m. ET on Nov. 23.

Results will be published on Nov. 24.

Settlement is planned for Dec. 12.

Kroll Issuer Services Ltd. is the exchange and information agent.

The provider of home credit in emerging markets is based in Leeds, U.K.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.