IuteCredit Europe EUR 40 million 4y senior secured bond

KNG Securities LLP (UK) acted as lead manager, arranger and book runner on a EUR 40 million 4-year senior secured bonds for IuteCredit Europe.
IuteCredit – established in 2008 – is a leading European personal finance company. The Group is specialized in consumer credits via its 100% subsidiaries using equity and loan capital. IuteCredit serves customers currently in Moldova, Albania, North-Macedonia, Kosovo and Bosnia and Herzegovina.
Until 31.03.2019, 300 people including the Management and IT team served 150,000 of active loan customers and worked with the pool of 430,000 customers.
IuteCredit’s loan products are unsecured consumer loans with maturities between 1 month and 36 months and car-secured loans with maturities up to 60 months.
The four-year senior secured corporate bond was issued at par with a 13% coupon and are listed in the Open Market of the Frankfurt Stock Exchange.
Tarmo Sild, Group CEO of IuteCredit, commented:
“We are very grateful for the trust investors expressed in IuteCredit subscribing our first-time Euro bond. The proceeds will further boost the pursuit of our mission: We want to create the extraordinary experience in personal finance by exceeding customers’ expectations in underbanked-markets and thereby create significant social impact in improving the everyday life quality of our customers. Likewise, we have been profitable every year since the beginning in 2008. For our business activities, we see great demand from potential and existing customers for existing products as well as for innovations.”