Latvia’s 4finance calls SEK 600 million fixed-rate bonds

New York, March 30 – 4finance SA will redeem all SEK 600 million of its senior callable fixed-rate bonds 2015/2018 on May 31, according to a news release.

Holders will receive 106% of par plus accrued interest up to and including the redemption date.

In order to carry out the redemption, 4finance said it has received a temporary waiver of a technical default under the bonds’ incurrence test from the agent.

The redemption is conditional on the completion of the sale of new dollar-denominated notes that will be used to finance the redemption.

It is also a condition that the new financing is larger than permitted under the incurrence test for the bonds.

4finance is a provider of short-term loans and is based in Riga, Latvia.

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