DGAP-News: Investment Evolution Corporation
/ Key word(s): Agreement
Investment Evolution Corporation (IEC) Signs EUR 100M Loan Agreement with PKF PCC
SEYCHELLES, REPUBLIC OF SEYCHELLES / ACCESSWIRE / April 6, 2021 / Investment Evolution Corporation (MERJ: IEC) announces it has signed a 5-year €100 million loan agreement with PKF PCC. The loan agreement period continues from 1 April 2021 until 31 March 2026 and loan proceeds will be used to fund the planned significant expansion of IEC Credit, IEC's consumer credit business that provides consumer loans in Spain via its online lending platform www.ieccredit.es.
Paul Mathieson, IEC's Founder and major shareholder said, "The €100 million loan agreement with PKF PCC is the culmination of the tenacious efforts by the Investment Evolution team and will allow IEC to realise its significant potential. I believe this loan agreement is the most important development in IEC's history that will fuel significant and rapid growth in its Spain lending business."
To fund the IEC loan agreement, PKF Capital Markets (Seychelles) Limited will invest their own capital and issue an additional PKF PCC fixed interest bond series to its institutional and high net-worth private clients. PKF PCC also plans to list this additional PKF PCC bond series on the Seychelles Stock Exchange, MERJ Exchange Limited (MERJ), later in 2021.
"We are delighted to welcome PKF Capital Markets (Seychelles) Limited as an institutional investor in IEC" said Sam Prasad, IEC's Executive Chairman and CEO. "This €100 million loan agreement and PKF PCC bond series provides IEC with a strong capital base to execute the substantial growth planned for IEC Credit in 2021 and beyond."
Justin Porteous, PKF PCC Investment Manager said, "We are excited to be investing and partnering with IEC to facilitate the growth of their Spain lending business via our loan agreement and PKF PCC fixed interest bond series."
About PKF PCC
PKF PCC is a Seychelles Domiciled Company and MERJ has granted a listing for the PKF PCC debt issuance program. The nature of business and principal activities of the Company is issuing of Bonds and similar securities and investing the proceeds in a portfolio of financial instruments, funds, Bonds, and structured products in accordance with its investment policy. PKF Capital Markets (Seychelles) Limited is 100% shareholder in PKF PCC. PKF Capital is a licensed Securities Dealer (license number SD001), a member of MERJ and a registered Sponsor Advisor to listed companies and those wishing to list on the exchange. As a diversified financial services business, PKF Capital provides a comprehensive range of financial products and services including corporate finance, sponsor advisor, private wealth management and securities broking services to institutions and private clients.
About Investment Evolution Corporation (IEC)
Investment Evolution Corporation is a global publicly listed fintech group (MERJ: IEC) with a 10-year operating history providing consumer loans under 7 state lending licenses in the United States (www.mramazingloans.com). IEC's subsidiary Investment Evolution UAB provides online consumer credit of €1,000 loans over 1 year and €2,000 loans over 2 years in Spain (www.ieccredit.es). IEC has also developed IEC Transfer, a web platform utilizing blockchain to enable free international transfers for OFWs in Europe. For more information about IEC, visit www.investmentevolution.com
This press release contains forward-looking statements which include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied. Investors should not place any undue reliance on forward-looking statements and information contained in this press release should not be construed as investment advice.
SOURCE: Investment Evolution Corporation
06.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.