Euroloan repays EUR 15 million bond and issues three new bonds to fuel growth
Helsinki, Finland, 2017-11-21 10:32 CET (GLOBE NEWSWIRE) -- Euroloan Group PLC today announced the repayment of a EUR 15 million bond (ISIN code FI4000180351), that had a maturity of 24 months and a coupon of 6%.
“We have over ten years of operation built up a level of trust with our investors”, says Tommi Lindfors, Chairman of the Board of Euroloan Group PLC.
Euroloan has now issued three new bonds, in total EUR 90 million, to keep up with the rapid growth in its markets.
“Although a minor milestone, this small repayment compared to the new bond issues is a concrete example of how much we have grown over the last few years. We intend to grow a lot more in the future.”
“All our markets are growing at an unprecedented pace, and future prospects for further growth are even better. In the pay by invoice and lending business, fast growth means that more funding is required to keep up with demand. This is why we have issued these three new bonds to complement our existing facilities and an ongoing EUR 40 million equity round.”
In May this year Euroloan announced the doubling of its structured financing facility with Fortress Investment Group LLC (NYSE:FIG) from EUR 60 million to EUR 120 million. In June, the group strengthened its equity by EUR 5 million through crowdfunding.
The new bonds are:
- Euroloan Group 4/2017 (ISIN Code FI4000292271)
- Maturity 14.11.2018
- Size EUR 30 million
- Coupon 5 %
- Euroloan Group 5/2017 (ISIN Code FI4000292289)
- Maturity 14.11.2019
- Size EUR 30 million
- Coupon 6 %
- Euroloan Group 6/2017 (ISIN Code FI4000292297)
- Maturity 14.11.2022
- Size EUR 30 million
- Coupon 9 %
This material is for information purposes only. The information contained herein does not constitute a public offer of securities under any applicable legislation or an offer to sell or solicitation or an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.
Euroloan Group PLC is a rapidly growing international group, specialized in highly automated financial services and financial technology (FinTech).
Utilizing advanced algorithms, machine learning and true end-to-end automation, the Group offers consumer loans, credit cards and merchant payment solutions on Euroloan’s secure cloud-based platform.
For more information, please contact:
Euroloan Group Plc
Tel +358 10 217 1003
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