International Personal Finance tenders for €225 million 11½% notes

By Susanna Moon

Chicago, March 24 - International Personal Finance plc said it began a cash tender offer for its €225 million 11½% guaranteed notes due 2015.

The purchase price will be €1,135 per €1,000 principal amount plus accrued interest.

The tender offer will end at 11 a.m. ET on April 2.

The purpose of the offer is to proactively manage the company's upcoming debt redemptions and, along with a new notes issue, to lengthen its debt maturity profile, according to a company press release.

The tender offer is conditioned on the issue of new notes.

Tender instructions must be submitted with a minimum nominal amount of at least €50,000 and in integral multiples of €1,000 after that.

Citigroup Global Markets Ltd. (+44 20 7986 8969, attn: liability management group, or e-mail to liabilitymanagement.europe@citi.com) and HSBC Bank plc (+44 20 7992 6237, attn: liability management group, e-mail to liability.management@hsbcib.com) are the dealer managers. Citibank, NA, London Branch (+44 (0) 20 7508 3867, attn: exchange team, or e-mail exchange.gats@citi.com) is tender agent.

The home credit company is based in Leeds, England, and caters to those in Poland, the Czech Republic, Slovakia, Mexico and Romania.

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