International Personal Finance plc (“IPF”), the holding company for a leading provider of home credit, has today launched an offer of 6.125% sterling bonds due 2020. The bonds are available to retail investors and are being issued by IPF for general corporate purposes.
IPF and its subsidiaries (the “Group”) provide small sum, short term unsecured loans in Poland, Hungary, the Czech Republic, Slovakia, Romania and Mexico. The Group currently has approximately 6,330 employees and 28,500 agents. The Group’s head office is in Leeds in the United Kingdom. In 2012 the Group served 2.4 million customers and profit before tax and exceptional items was £95.1M.
The bonds bear interest at a fixed rate of 6.125% per annum, payable semi-annually in arrear in equal instalments. Bondholders should, in most normal circumstances, be able to sell their bonds during normal trading hours (subject to market conditions) on the open market through their stockbroker.
Canaccord Genuity Limited is acting as Manager on this issue.
The bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter.
The offer period is now open and is expected to close at 12 noon (London time) on 30 April 2013. The Manager retains the right to close the offer early, in conjunction with IPF.
The bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds.
Commenting on the launch, Gerard Ryan, Chief Executive Officer of IPF said:
“This retail bond is part of IPF’s strategy of diversifying sources of funding and extending the term of debt facilities, at lower cost to provide further funding for the future development of the business as we continue to progress our Strategy for Growth.”
For enquiries, please contact:
International Personal Finance plc
Nick Dahlgreen (General Enquiries) +44 (0) 113 285 6700
Rachel Moran (Investor Relations)
Nick Jones (Media)
RLM Finsbury
Matthew Newton +44 (0) 207 251 3801
Andrew Hughes
Canaccord Genuity
Adrian Bell +44 (0) 20 7523 8000
Mark Glowrey
Henrietta Podd
