Pricing of New EUR Notes

International Personal Finance Plc

06 June 2024

 

6 June 2024

International Personal Finance plc

Pricing of New EUR Notes

International Personal Finance plc ("IPF"), the holding company for a global consumer finance business, helping people excluded from mainstream finance to access simple, personal and affordable credit, announces today the successful pricing of an issuance of EUR 341,000,000 10.75% Fixed Rate Notes due 2029 at an issue price of 99.493% (the "Notes"). 

The Notes were oversubscribed multiple times during marketing with over 150 investors participating in the transaction. The proceeds of the Notes will be used to purchase the EUR 341,228,000 Senior Unsecured Notes due 2025 accepted, in IPF's sole discretion, in the tender offer announced by IPF on 3 June 2024. The Notes are expected to be issued on 14 June 2024.

Commenting on today's announcement, Gerard Ryan, Chief Executive Officer of IPF, said:

"We are delighted by the strong demand for the Notes from debt investors, which reflects the strength of IPF as an investment proposition and as a key provider of simple, fair and affordable consumer finance in our nine markets. The new Notes refinance our 2025 Eurobond well ahead of maturity and materially extend our debt maturity profile. We are also very pleased that our strong performance combined with this refinancing has led to Fitch Ratings placing IPF's credit ratings on Rating Watch Positive with the intention to upgrade IPF to "BB" following the closing of this transaction. I would like to thank investors both new and returning for their support and belief in our purpose of building a better world through financial inclusion."

The final terms relating to the Notes (the "Final Terms") are expected to be published on or around 12 June 2024 and will be submitted to the National Storage Mechanism.

For further information contact:

Kris Adamski Group Treasurer	[phone]
Rachel Moran Investor Relations Manager	[phone]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Final Terms, once published, and the base prospectus dated 6 June 2024 and published by IPF (the "Base Prospectus") may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Base Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Base Prospectus as supplemented by the Final Terms is not addressed. Prior to relying on the information contained in the Base Prospectus you must ascertain from the Base Prospectus whether or not you are part of the intended addressees of the information contained therein. In particular, this announcement is not for distribution in the United States and the Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). Subject to certain exceptions, Notes may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of U.S. persons, as such terms are defined in Regulation S under the Securities Act. There will be no public offering of the Notes in the United States.

Your right to access this service is conditional upon complying with the above requirement.

Legal Entity Identifier: 213800II1O44IRKUZB59

 

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