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Latvia’s 4finance conforms 11¾% bonds due 2018 to dollar, euro issues
By Susanna Moon
Chicago, Nov. 22 – 4finance SA amended the terms of its SEK 375 million principal amount of outstanding 11¾% bonds due March 27, 2018.
The amendment further aligns the terms of the notes with those of the issuer’s dollar and euro bonds “to ensure that the issuer can act efficiently in its capacity as a finance company for the group,” according to a company notice.
The amendment will allow the issuer to grant loans to 4finance Holding SA’s direct shareholders, i.e., 4finance Group SA, or the subsidiaries of the direct shareholders, provided that the loan is treated as a dividend distribution, the release noted.
The terms have been amended by agreement with the agent and became effective on Nov. 21.
“The issuer and the agent have deemed that the proposed amendment will not be detrimental to the interest of the bondholders,” the release added.
The agent has sent a notice of the amendment to the bondholders with more information, including the reasons for the amendment.
The full version of the updated terms are published on the website of the agent at nordictrustee.com/obligationsvillkor.
4finance is a provider of short-term loans and is based in Riga, Latvia.
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