EQS-News: PlusPlus Capital Financial S.à.r.l.
/ Key word(s): Bond
PlusPlus progresses in raising funds and plans voluntary buyback program following adjourned bondholders’ meeting
In addition, taking advantage of current favorable market conditions, part of the funds are to be used to actively purchase new portfolios that will generate cash flow to service and ultimately redeem the remaining bonds at maturity in 2026.
The combination of the two uses of funds offers bondholders the opportunity to redeem their positions early at a discount in 2023 or hold them to maturity while allowing the Company to resolve liquidity issues PlusPlus has faced since the market turmoil in 2022.
PlusPlus recommends that the bondholders decide against the termination of the Bonds and the enforcement of the Guarantees and the Transaction Security Documents in the adjourned bondholders meeting.
Prior to this, the bondholders' meeting originally scheduled for 29 August 2023 did not take place as the required quorum was not reached. However, PlusPlus notes that 81 percent of the votes cast were in favor of the Company's proposals.
All the necessary documents for the voting are available on the website of PlusPlus Capital:
PlusPlus Capital AS
PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The Company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics.
Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 300 million. The Company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors.
PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market.
25.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||PlusPlus Capital Financial S.à.r.l.|
|1 rue Jean Piret|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Munich, Tradegate Exchange|
|EQS News ID:||1733547|
|End of News||EQS News Service|
1733547 25.09.2023 CET/CEST