By Susanna Moon
Chicago, June 3 – International Personal Finance plc said subsidiary IPF Investments Polska sp zoo issued PLN 200 million of five-year bonds.
Interest will be six-month Wibor plus 425 basis points.
Proceeds will be used to buy back PLN 90.6 million of bonds due June 30, 2015, which have a floating-rate coupon of six-month Wibor plus 750 bps. The remaining PLN 109.4 million of the bonds will be repaid at maturity.
The bookrunners were Bank Polska Kasa Opieki SA, a subsidiary of UniCredit Group, and Bank Zachodni WBK SA, a subsidiary of Santander Group.
"The successful completion of this transaction is part of our strategy of raising long-term funds at lower cost and from diversified sources,” Adrian Gardner, chief financial officer of International Personal Finance, said in a company press release.
“We have accessed the local bond market in Poland, IPF's most significant country of operation, to raise local-currency funds from a wide domestic investor base.”
The issuer is a Leeds, England-based provider of home credit in emerging markets.
| Issuer: | IPF Investments Polska sp zoo
|
| Issue: | Floating-rate bonds
|
| Amount: | PLN 200 million
|
| Maturity: | 2020
|
| Coupon: | Six-month Wibor plus 425 bps
|
| Bookrunners: | Bank Polska Kasa Opieki SA and Bank Zachodni WBK SA
|
| Pricing date: | June 3
|
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